CommonWealth Magazine: "Old laws, like Prop 2 1/2, need to adapt to times"

"I’VE BEEN STRUGGLING to find the right metaphor for our current economic situation. After the great recession of 2007-2009, my go-to was a staircase: the recession had knocked us down a flight of stairs and it took us a decade to climb back up.

But that won’t do today. If COVID knocked us down the stairs, our response was to leap–like some superhero–up and out of the building. Only afterwards did we realize we don’t know how to land.

Or how’s this analogy…to avoid a dangerous tangle on the highway, we successfully accelerated around it–only to discover that our brakes aren’t working well.

You get the point. For the first time in decades, the problem with the US economy is that it’s running too hot, with plentiful job opportunities driving unsustainable wage growth and consumer demand keeping inflation above healthy levels.

Fixing all this is mostly a job for the feds. But lawmakers here in Massachusetts have an important role to play: they need to adapt."

Continue reading the article at CommonWealth Magazine ->

https://commonwealthmagazine.org/opinion/old-laws-like-prop-2-1-2-need-to-be-adapted-for-times/ 

CommonWealth Magazine: "Old laws, like Prop 2 1/2, need to adapt to times"