Reopening Is Not Recovery

There is some confusion about where we are—economically—in the midst of the crisis caused by the coronavirus pandemic. We are in a recession and likely on the front edge of a depression. There is wide disagreement about the “shape” of the recovery. And unfortunately, “reopening” and “recovery” are being used interchangeably.

“Reopening” is the phrase being used for an end to some of the government-imposed restrictions on organizational operations in order to prevent the spread of coronavirus. Nearly all 50 states have moved to some level of reopening—for a detailed look, check out this interactive map . . .