Home
/
RELIGION & LIBERTY ONLINE
/
A recipe for economic recovery from COVID-19
A recipe for economic recovery from COVID-19
Dec 24, 2025 3:45 PM

With the focus on COVID-19 shifting from the health emergency (easing) to getting the economy going again (glimmers of hope), it’s easy to forget just how good the economy was before the pandemic hit. Recall that in mid-February, financial news organizations were reporting that the S&P 500 and the Nasdaq Composite indexes were hitting record highs.

In “Getting America Back to Work.” (Encounter Books, 2020), Andy Puzder has drawn a sharp contrast between the eight-year stagnation and regulatory overkill of the Obama administration and what he calls the Trump Economic Boom that followed. Among the many indicators he cites in his 43-page broadside is the National Federation of Independent Business optimism Index, which “blasted off” the day after President Trump’s November 2016 election and remained at historic highs right through February.

“Although massive government interventions that Barack Obama pursued following the Great Recession might presently appear beneficial or even essential, a return to Obama’s ‘new normal’ of stagnant growth would lead to disastrous and persisting economic damage,” he writes. “We must instead return, as soon as is safely possible, to the Trump model of economic prosperity that produced the strongest labor market in modern history.”

Puzder is a senior fellow at the Pepperdine School of Policy and was President Trump’s first nominee for Secretary of Labor. He withdrew the nomination in February 2017. He is the former CEO of CKE Restaurants Inc., pany of, among other fast food restaurants, Carl’s Jr. and Hardee’s.

So how do we get the economy going again? Will this be a short, sharp downturn, or a long agonizing stretch of slow growth and weak employment?

Puzder’s recipe is for more of the same policies that encouraged the “Trump boom” in the first place: regulatory relief, certainty, and tax policies that allow businesses and individuals to keep most of what they earn. That’s not a sure thing given that many on the left are intent on using the economic crisis to permanently expand government reach into the economy and prolong the labor market agony. To back that up, Puzder cites, among others, ment by House Majority Whip James Clyburn, D-S.C., that the coronavirus crisis is “a tremendous opportunity to restructure things to fit our vision.”

What that vision is doesn’t take much guesswork. You just have to listen to the actual words of those not wanting to let the coronavirus crisis go to waste. Here’s the response of Gov. Gavin Newsom, D-Calif., when asked in early April if the crisis was creating the potential for a new progressive era. “Yes,” he answered, “we see this as an opportunity to reshape the way we do business and how we govern.”

But you have to wonder how the Clyburn or Newsom vision could improve on the Trump numbers for those at the low-wage end of the labor market, which were at historic highs before the pandemic overturned the gains. If the dignity of work means anything at all, it has to be within the grasp of those in hourly wage jobs in sectors such as retail, hospitality, manufacturing, construction and the like.

“In 2019, unemployment hit lows not seen since the government began reporting the data for African Americans, Hispanics, Asians and people with only a high school education,” Puzder writes. “For women, the unemployment rate hit a sixty-five-year low and for teenagers (aged 16-19) it hit a fifty year low.”

Economic growth under Trump policies was strong, but what about the trade war with China? Fed economists estimated that the trade disruptions with China may have cost the United States 1 percentage point in growth. Still, under Trump, GDP growth hit 2.9% in 2018 and 2.3% in 2019. Puzder says that under Obama GDP failed to achieve a single year of 3% GDP growth, and only grew at a 1.6% rate in his last year in office.

“The same recipe that produced the strongest labor market in modern history can restore the wealth we lost because of the pandemic,” Puzder predicts. “If government helps people now, as it should, but otherwise gets out of the way and empowers the private sector, the impact of the virus will be a short-term hit from which we will recover rapidly. If the government keeps its heavy hand on the economy, we may never fully recover.”

How we handle this crisis going forward will make all the difference now. And that’s on all of us. “When this crisis ends, the choice will be ours,” Puzder concludes.

Comments
Welcome to mreligion comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
RELIGION & LIBERTY ONLINE
Does Slave Redemption Increase Slavery?
Thousands of girls and women in Iraq and Syria have been captured by the Islamic State and sold into sex slavery. But one Iraqi man is trying to save them by buying sex slaves in order to free and reunite them with their families. As the Christian Post reports, “an Iraqi man, who remains nameless, disguises himself as a human trafficking dealer in order to ‘infiltrate’ the Islamic State and get the militants to sell him sex slaves. But in...
Why a Christian Anthropology Matters for Liberty and Love
Dorothy Sayers, playwright, novelist and Christian scholar, wrote an important work in the 1930s entitled,Are Women Human?In her essay,shepresents the biblical case for gender equality in a humorous and insightful way, grounding mutuality in theological anthropology. From the Genesis narratives to the new earth of Revelation, she affirms this thesis: We are all human beings, made in the image of God with a job to do. And we do our jobs as a man or a woman. This theological vision...
How ‘Downton Abbey’ Shows Income Inequality Doesn’t Matter
After what seemed to be an interminably long wait, Downton Abbey, a British period drama on PBS, recently returned to America. Many of us who have been hooked on the show for four seasons tune in each Sunday night to watch the new twists in the saga of the Earl and Countess of Grantham, their household, and their servants. But as with most pop culture artifacts, this series about Victorian England is having a subversive effect on the views of...
Get Useless: Stewardship in the Economy of Wonder
“This is useless. This is gratuitous. This is wonder.” –Evan Koons When we consider the full realm of Christian stewardship, our minds immediately turn to areas like business, finance, ministry, the arts, education, and so on — the placeswhere we “get things done.” But while each of these is indeed an important area of focus, for the Christian, stewardship also involves creating the space to stop and simply behold our God. Yes, we are called to be active and diligent...
Spirit Empowerment in the Economic Order
In the latest Journal of Markets and Morality, Joseph Gorra reviews Dr. Charlie Self’s new book,Flourishing Churches and Communities, calling it a “joyous, practical, and insightful primer to the integration of ‘faith, work, and economics” that will inspire “a pathway for leaders of Pentecostal thought to reflect on public life in a renewed way.” The book is one of four tradition-specific primers from the Acton Institute, and although it focuses specifically on a Pentecostal perspective, Gorra rightly observes that Self...
When is a Ban not a Ban? When it’s a Target
When is a ban not a ban? One answer might be when it is based on moral suasion rather than legal coercion. (I would also accept: When it’s a Target.) In this piece over at the Federalist, Georgi Boorman takes up the prudence of a petition to get Target to remove smutty material and paraphernalia related to Fifty Shades from its shelves. Boorman rightly points to the limitations of this kind of cultural posturing. Perhaps this petition illustrates more of...
The Government Is Hungry: Detroit and ‘The Grapes of Wrath’
Detroit home owners are being put out of their homes, but it’s not because of bankers. Then by who? It’s the Detroit city government seeking to collect back real estate taxes. There are always tax foreclosures, but foreclosures are growing from 20,000 in 2012 to an expected 62,000 in 2015. Who is putting poor people on the streets in Detroit? The government. There is a twist here based on the fact that Detroit homes have an old (and therefore way...
Video: Jeffrey Tucker Explains Why Capitalism Is About Love
The 2015 Acton Lecture Series got off to a rousing start last week with the arrival of Jeffrey Tucker, Chief Liberty Officer of Liberty.me, to deliver the first lecture of this year’s series, entitled “Capitalism Is About Love.” If you go by the conventional wisdom, that seems to be a counterintuitive statement.Jeffrey Tucker explains how the two are actually bound up together. You can watch the lecture via the video player below, and if you haven’t had a chance to...
Radio Free Acton: Jeffrey Tucker on Capitalism and Love
Jeffrey Tucker speaks at the 2015 Acton Lecture Series It’s always good to e old friends to the Acton Building. Last week it was our pleasure to e Jeffrey Tucker, author, speaker, and the founder and Chief Liberty Officer of Liberty.meto Grand Rapids in order to deliver the first Acton Lecture Series lecture of 2015, entitled “Capitalism is About Love.” (We’ll be posting audio and video of his address later this week.) Jeffrey took some time to join me in...
Communion and Consumerism
“Consumption serves, sustains and munity—above all the munity,” says Rev. Gregory Jensen in this week’s Acton Commentary. Consumption is not an end in itself but has a purpose. We are, Schmemann says, called by God “to propagate and have dominion over the earth”; that is to say, consumption serves human flourishing. The first chapters of Genesis portray creation as “one all-embracing banquet table,” foreshadowing a central theme in the New Testament. In the Kingdom of God we will “eat and...
Related Classification
Copyright 2023-2025 - www.mreligion.com All Rights Reserved