If idea creation is increasingly the factor that engenders value-added, then training and education are crucial to the growth of company value-added and profitability. In the private sector, a number of major corporations have invested in their own internal training centers -- so-called corporate universities. Some labor unions have done the same.
As high as the fiscal costs of these assistance measures have been, they prevented the economy from sliding into a downward spiral which could have driven the fiscal burdens much, much higher. But the euro area’s single monetary policy also made a key contribution to mitigating the economic fallout of the coronavirus pandemic.