#2
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Economic Recovery #2




  • Coronavirus fraudsters



  • The town of Oñati



  • Social protection in Brazil



  • Stamp duty paralysis
Published every Friday


Post and Courier (South Carolina)


SC law firms, churches, builders, sports teams received major federal COVID-19 lifelines

A federal program billed as a financial lifeline for small businesses during the COVID-19 pandemic also dispersed millions in South Carolina to high-powered law firms, major construction companies and global manufacturers, according to data released last week.


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NBC News


Millions of Americans are going hungry as the pandemic erodes incomes and destroys communities

As jobs vanish, incomes drop and food prices rise, more Americans are going to bed hungry — and advocates warn that without intervention from Congress, those numbers could rise to a level unseen in modern times.


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Stateline


Coronavirus Fraudsters Keep Prosecutors Busy

State AGs track millions in false loan and unemployment claims.


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Editor’s Note:

An increased flow of money from the government has also meant increased attempts to get some cash by less than truthful actors. Here Elaine Povich digs into it for Stateline.


BBC


How are other economies dealing with the downturn?

Chancellor Rishi Sunak is due to set out the next instalment in the government’s plans to help the British economy recover from the blows inflicted by the pandemic.


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OpenDemocracy


Another Town Is Possible: Community Wealth Building in the Basque Country | naked capitalism

Thanks to its unique economic model, the town of Oñati has a history of adapting successfully to economic disruption.


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The Hindu


Joblessness and opportunity in Tamil Nadu

The longer-term decline in the labour participation rate can be attributed to a host of factors


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Folha de São Paulo


How the social protection measures taken so far can help Brazilian families overcome the Covid-19 economic crisis

Brazil’s population is facing COVID-19 from an already financially weakened situation following the 2015-16 crisis. The poorest were still recovering from the crisis, with the income of the poorest 40 percent of the population still below the pre-crisis level.


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Editor’s Note:

The economic impact also falls harder on certain groups like low and middle income families. Here Rafael Muñoz Moreno
writes a piece that originally appeared in Portuguese in Sao Paulo.


CNBC


China’s jobs problem runs deeper than the coronavirus

As China grapples with rising unemployment and slowing growth, some say a needed economic boost could come from new business approaches to hiring. “If you’re thinking about, ‘How can we get additional productivity?’ then you need to make it possible for people to move to where the productive jobs are,” Martin Raiser, country director for China and Mongolia, and director for Korea, at the World Bank, said in a phone interview last month. Some Chinese start-ups are making better management a selling point as they try to innovate not just in their industry, but workforce systems. © Provided by CNBC White-collars walk to their lunch break in Pudong business district in Shanghai, China.


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RAND


A Tale of Two Americas

The nation’s pain is obvious and palpable everywhere except in the stock market. A pandemic still rages in the United States, which leads the world in COVID-19 cases and deaths, including a disproportionate number of African Americans. The economic fallout has been significant, with 38.6 million Americans filing unemployment claims by the end of May, and many small businesses struggling to stay afloat. Latest estimates by the Congressional Budget Office show that it could take up to ten years for the economy to be get back to normal. Widespread protests demanding racial justice have swept the nation for several days, following the death of George Floyd at the hands of the police. And they have brought to the fore, not for the first time, longstanding systemic inequities.


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The Telegraph (UK) ($)


An autumn stamp duty holiday will paralyse the property market

Trailing a future tax cut will stop buyers in their tracks and do nothing to help the parts of the market that need it the most


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Editor’s Note:

Measures to help the economy are one thing but so is timing. Here Telegraph property editor Isabelle Fraser argues that a plan for the UK stamp duty will have unintended consequences.