Home
/
RELIGION & LIBERTY ONLINE
/
A recipe for economic recovery from COVID-19
A recipe for economic recovery from COVID-19
Jan 25, 2026 6:06 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
Milton Friedman vs. Bernie Sanders
The presidential campaign of Bernie Sanders is about e to an end. Unfortunately, though, the Democratic Socialism espoused by Sanders will live on long after his presidential ambitions have faded. This type of socialism is nothing new, of course. For more than a century free market economists have been warning of the dangers of succumbing to the economic fallacies of democratic socialism. A prime example is the late, great Milton Friedman. Although he’s been gone for a decade, Friedman is...
New Barna Study on Americans’ Confused Morality is … Confused
The Barna Group recently released a fascinating new study on morality in America. The press release is titled, “The End of Absolutes: America’s New Moral Code.” It summarizes the study: New research from Barna revealsgrowing concern about the moral condition of the nation, even as many American adults admit they are uncertain about how to determine right from wrong. Sounds like a problem. And, indeed, the data does give reason to be concerned. But the framing of at least one...
Perverse Incentives Hurt Poor Defendants
Since the landmark Supreme Court decision Gideon v. Wainwright (1963) every state has developed a system of public defense. The decision guaranteed that those accused of felony offenses are entitled to a lawyer under the rights outlined in the 6th Amendment, which include, the right to a jury trial, a public trial, and pertaining to Gideon, “to have the assistance of counsel for his defense.” In the wake of the Gideon decision each state was required to develop a system...
5 Facts About Acton University
This is the week for the annual Acton University, a unique educational experience focused on the intersection of liberty and morality. Here are five facts you should know about Acton U. 1. Acton University is a four day annual conference on liberty, faith and free-market economics held in Grand Rapids, Michigan. 2. Each even includes nine sessions in which attendees can create a customized learning path from 100+ courses taught by 55+ international, world class experts. 3. The conference is...
When good intentions harm children
Imagine you are given three choices —A, B, or C. In the ranking, A is much preferred to B and B is exceedingly preferable to C. Which do you choose? Obviously, all else being equal, you’d choose A. Now let’s add the following restrictions to your choice: • You, your family, and your friends will all get A. But you must make the choice of A, B, or C, for other people who you will likely never meet. • If...
What Christians Should Know About Crony Capitalism
Note: Later today at the Faith & Freedom conference I’ll be speaking on a panel titled, “A Cronyism Crisis: How Corporate Welfare Undermines Markets and Human Flourishing.” If you’re at the conference please stop by this session. The Term:Crony capitalism (sometimes referred to as cronyism or corporatism) What it means:Crony capitalism is a general term for the range of activities in which particular individuals or businesses in a market economy receive government-granted privileges over their customers petitors. Why it Matters:...
Exiles in the American Lion’s Den
We have routinelypointed to Jeremiah 29 as an introductory primer for life in exile, prodding us toward faithful cultural witness and away from the typical temptations of fortification, domination, and modation. As Christians continue to struggle with what it means to be in but not of the world, Jeremiah reminds us to “seek the welfare of the city,” bearing distinct witness even as we serve our captors. We are to “pray to the Lord for it,” Jeremiahwrites, “because if it...
Explainer: What You Should Know About ISIS and the Orlando Terrorist
On Sunday, an American-born terrorist named Omar Mir Seddique Mateen killed 49 and wounded 53 in Orlando. In a 911 call during the attack Mateen pledged his allegiance to the terrorist group ISIS. Although the group also claimed responsibility for the attack, U.S. officials said they haven’t seen a direct link between the gunman and the terrorist group. Here are five facts you should know about ISIS: 1. ISIS (aka ISIL, Islamic State, IS, Daesh) is the name of an...
Review and audio: Reconciling God and profit
Samuel Gregg’s latest book, For God and Profit: How Banking and Finance Can Serve the Common Good argues that making a profit and living a good, moral life are not mutually exclusive endeavors. People are taking notice. In a new review of the book at Zenit, Fr. John Flynn agrees with Gregg. “[M]oney and finance,” he begins, “play an essential role in the well-being of persons and nations and they are not of themselves immoral.” He continues: Another handicap to...
Church of England: Maybe Margaret Thatcher Wasn’t So Un-Christian After All
“Economics are the method,” wrote Margaret Thatcher in 1981, “the object is to change the heart and soul.” Guided by her Christian faith, the prime minister believed that the welfare state was not only harming her fellow citizens but damaging the moral fabric of the United Kingdom. As Florence Sutcliffe-Braithwaiteexplains, Thatcher’s fears about the welfare state were twofold: First, she and her advisers thought that generous collective provision for unemployment and sickness was sapping some working-class people’s drive to work....
Related Classification
Copyright 2023-2026 - www.mreligion.com All Rights Reserved