Economist highlights difference between 'ability' and 'willingness' to reopen economy amid pandemic

The debate about which sectors of the economy are able to reopen amid the coronavirus pandemic doesn't exist in a vacuum.

While there are certain policies and mitigation efforts in place that could allow businesses to reopen more safely, Mohamed El-Erian, the chief economic adviser for Allianz, said Sunday that "you're not going to see a quick recovery in all sectors" because individuals just won't be ready to participate in the economy on a pre-pandemic scale as long as they harbor concerns about their own health.

In short, he said, "we have to understand there's a difference between ability to work, reopen the economy, and willingness to work, willing to go in and engage in the economy. And until you improve both ability and willingness, we're not going to get back to where we were." Tim O'Donnell

The Week

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