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The founder of modern economics, Alfred Marshall, used this Latin phrase as the epigraph of his 1890 Principles of Economics, a text which laid out fundamental economic concepts still considered relevant to understanding economic utility, investment returns, supply and demand, and competition in the marketplace 5 Considering the Disruption of the Coronavirus Pandemic One of Marshall\'s key insights was that economics was not merely a study of wealth, and the activities that go into the creation of wealth [ ]the temptation to find a quick fix, a kind of leap, is especially strong amongst policy makers right now, and so the systematic perspective of Marshall can be a healthy corrective to some of the \'magical thinking\' being applied to the restoration of the U S economy The critical take-away from these Bureau of Labor Statistics data is that the headline news about job losses as concentrated in a few industries such as hotels, restaurants, and retail stores, large employing low-wage workers, gives a very incomplete picture of the labor force impacts [ ]the U S Chamber of Commerce (a private organization) reports that 58 percent of small business owners find themselves at risk of closing permanently
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