Another very fine piece by Tim Worstall.
How do we do the old things in a new and different manner? What new things replace those old things that won't exist at all? Anyone who has ever tried to get a job knows that nothing happens immediately here. Even if we knew exactly what to do — we don't, we're going to have to use market experimentation to work that out — already it takes notable time to advertise a job, collect applications, interview, kick HR a few times, and then hire. None of this process is aided by further economic stimulus.