In 2015, while I was at the University of Michigan, I helped a former student, James Wahls, design a program to bring together a local CDFI, philanthropies, and several banks, to launch the Entrepreneurs of Color Fund in Detroit.
State aid rules were quickly relaxed and fiscal rules suspended, empowering a strong fiscal response to underpin wages and incomes. About 16% of employees in the four largest countries are now enrolling in short-time work schemes and government-supported temporary layoffs.