College of Liberal Arts Interviews Dennis Jansen and Jonathan Meer

Apr 21, 2021
Summary:
On Monday, April 19, 2021, the College of Liberal Arts interviewed PERC’s Director Dennis Jansen and Jonathan Meer, PERC’s Jordan Professor of Public Policy, for a story on the national GDP, the recession and the changes vaccinations will bring.
 
As the pandemic spread, U.S. Real GDP plummeted 10 percent during the recession that immediately followed the outbreak, then rose to only 4 percent below the previous high. “It doesn’t sound like much, but 4 percent is still a pretty big recession, since it’s about two years of typical growth,” Jansen explained. “If we were just growing at our usual rate, it would take us two years to get us back to where we were a year ago from where we are now.”
 
However, as more of the country becomes fully vaccinated, the economy is seeing signs of recovery. “Continued vaccination efforts will influence the economy moving forward because people are feeling safe enough to do what they did before the pandemic,” Meer shared.
 
“Vaccines are absolutely, 100 percent the answer to economic challenges imposed by the pandemic,” economics professor Jonathan Meer said. “The only way to get back to normal life, to have people doing the things they want to do, spending money on the things they want to spend money on, to have businesses being able to hire the way they want and serve people the way they want, is with vaccines,” Meer continued.
 
This article was featured on Texas A&M’s news media site Today.
 
Read the article here.