Chapter 5 Reliable Tools
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The Corona crisis increased social cohesion in many countries: an external and invisible threat and the shared misery created a feeling of togetherness. Unexpectedly, the tribe of economists also showed a lot of unity, especially regarding the macroeconomic diagnosis and the policy advice. There were, of course, differing views at the time, but, by and large Dr Doom reigned over economic analysis in the first two Quarters of 2020: the pandemic was a significant negative shock of a size not seen since the era of death and destruction of the World Wars and the Spanish Flu.

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