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I don't think what you're asking for has ever been done before in human history. But here are some practical problems: 1. We can't just shut off the economy we
by bbatha 7y ago
I don't think what you're asking for has ever been done before in human history. But here are some practical problems:
1. We can't just shut off the economy we need enough to keep running build up medical supply production, keep farms and grocery stores running, etc. This isn't a shutdown but also a reshaping. Those amazon warehouse workers will probably stay their instead of going back to their retail jobs, which were already in jeopardy because of market factors against retail.
2. Independently, the financial system needs to keep cash flowing so businesses can afford the essentials. Being in cryo-stasis isn't free.
3. We may have already acted too slow businesses are already firing people and shutting down. Reopening and rehiring may be too expensive for many low-margin business already. Any delays in restarting one sector of the economy will ripple to others.
4. How long can government rack up the debt propping up the economy? How long will the surpluses last in the economy before we start seeing shortages of non-essential goods that aren't being manufactured right now.
5. Uncertainty. How soon after we get the all clear are people going to leave their houses and carry out their normal business? Even counties with no confirmed corona cases and no lock down orders are seeing decreased economic activity from people staying homes. The airline industry started its death spiral well before the rest of the economy. When do we hit the tipping point for enough people to leave their houses that a restaurant is profitable again? Will we have another wave of corona after we complete this round of lockdowns?