> The only school that has any explanation for this is the Austrian School of Economics.

I doubt it’s the only ‘school’ that has an explanation. That there are cycles in the economy isn’t a very strong statement. Nor does it seem to apply here because this is a different cause than one underpinning a typical business cycle.

Until this virus is wrestled to the ground somehow (e.g. distancing, sterilization, vaccine, herd immunity, etc...), we’ll continue to see mitigating effects which distort the picture of normalcy pre-2020.

No one sane thinks it will be sunny forever, and there is great economic cost in carrying around a bunch of umbrellas when the sun is shining overhead.