Loosening the lockdown is not about ‘money vs lives’

According to the Deputy Chief Medical Officer, we may be looking at a strict lockdown until June, with significant restrictions for as long as six months.

GDP is forecast to be down 15% this quarter on some estimates and the longer the lockdown, the deeper this slump will get. The scale of the economic collapse we are looking at leads to a grim conclusion – that the cure could end up being worse than the disease.

The problem here is a lack of joined-up government, an inability to see things in the round. The medical experts are thinking about medical matters, as they should, but there is more to life, and death, than any single expertise can cover. Another way to put this is that old economic saw, that there are no solutions, only trade-offs. There are costs to everything just as there are benefits and the task is to balance them in order to gain the optimal outcome given what the universe throws at us.

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Πηγή: capx.co

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