2/6 Hirshleifer examined Russia after War Communism, the South after 1865, Japan after WW2, Germany after WW2. All showed amazing recoveries. This was despite very considerable destruction of capital stock, not an issue in the U.S. of 2020.#Vshapedrecovery?
1/6 Imperative reading in these strange but not unprecedented economic conditions is Jack Hirshleifer’s "Economic Behavior in Adversity". https://t.co/UoM3NOJj5d, Out of print, but there is a downloadable PDF out in cyberspace. #Vshapedrecovery?