Washington, D.C.- A new analysis from the Center for American Progress argues that properly recovering from the coronavirus crisis will require structural reforms that fix underlying problems in America’s economy and democracy.
In “Structural Changes Are Needed to Address Coronavirus,” David Madland, senior fellow at the Center for American Progress, looks at how a lack of workplace protections, economic oversight, and democratic safeguards have left America more vulnerable to the dual economic and public health crises caused by the coronavirus. He also writes that during the recovery from the 2008-2009 financial crisis, large companies were given too much leeway, so that existing inequalities were exacerbated.
Madland argues that policies such as paid family and sick leave, unionization, fair and equitable pay for women and people of color, and limits on corporations’ monopoly power would not only mitigate the impact of the coronavirus, but put the country in a stronger position to grow after the the public health crisis has abated.
“The 2008-2009 financial crisis, taught us that we can not allow big banks, corporations, and wealthy individuals to guide our recovery process. The economic fallout from the coronavirus is hitting America especially hard because of the lack of workplace protections and oversight for corporations, has made both our lowest-paid workers and our largest corporations, particularly vulnerable to the vicissitudes of the economy,” said Madland. “Progressives must use this moment to address our country’s underlying problems, both to fight the immediate crisis, foster a strong, long-lasting recovery, and make us more resilient to the next.”
For more information or to speak to an expert, contact Julia Cusick at email@example.com.
To find the latest CAP resources on the coronavirus, visit our coronavirus resource page.