35 economists team up to issue a COVID-19 warning
Dozens of Australia’s leading economists are warning the Federal Government against easing social distancing laws too soon.
The state of the economy is often the key point of argument for those wanting to lift COVID-19 restrictions sooner rather than later, with as many as 3.4 million people potentially jobless within weeks.
But a group of 35 top financial minds have moved to debunk that thinking.
They say we must endure this short-term economic pain to avoid worse long-term consequences.
“What’s best for the economy in the long-run is being patient here,” one of the 35, Professor Chris Edmond from University of Melbourne, told Ross and John.
“The desire for normalcy is a very strong one, it’s why we’re putting this letter out.”
He said we risk permanent economic damage if we don’t stay committed.
Click PLAY for the full conversation with Ross and John