Tortoise, not hare
What I learned from all this is that economics is more like a tortoise than a hare. It took several decades and a mountain of evidence to change public opinion on such important matters like minimum wage and privileged education.
There's no telling how long it will take to fully grasp the weight of the great monetary policy experiment that is quantitative easing.
It also explains why there's such confusion and conflicting opinions about COVID-19 and the efficacy of vaccines and lockdowns.
The research hasn't even been completed yet, let alone compiled or discussed impartially. The greatest lessons of the pandemic, I believe, are yet to be learned.
The short-term effects of both QE and COVID-19, however, are clear as day. The rich got richer and the poor got proportionately poorer, all under the auspices of avoiding something worse.
Perhaps we did avoid something worse, perhaps we didn't. Unfortunately, we probably won't know for at least a decade.
Have a wonderful evening/morning.
