August 2022. Thank you for coming, everybody. Don’t forget to tip your waitstaff. Oh, you came for more than just the punchline? Well, pull up a chair and listen to me weave an oxymoronic tale of educated speculation. (“Educated speculation” — patent pending on that phrase.) I went to college in the early-to-mid 1990s. Back then, the study of economics was based on Adam Smith’s “invisible hand,” the unseen force that guided our short- and long-run decisions to maximize our financial outcomes. In the 1990s, I was told that I could eat all the candy and bread I wanted and…
Insights & Advice
Tag: COVID-19 pandemic
How the Berkshire economy emerges from the pandemic
On March 11, 2020, the World Health Organization (WHO) declared COVID-19 a pandemic, and the economy rapidly changed for the worst. The impact on Berkshire County was larger than that of the nation. According to Moody’s, the gross metro product of Pittsfield was down 6 percent in 2020. That compares to a 3.5 percent decrease for the United States’ gross domestic product (GDP). On a relative basis, employment in the Berkshires fell more than the nation and has been recovering more slowly. Notably, payrolls in the vital tourism sector are down significantly. According to Google Community Mobility Reports, 2021 year-to-date…