This collapse is not the result of a financial crisis. It is not even the direct result of the pandemic. The collapse is the result of a deliberate policy choic

This collapse is not the result of a financial crisis. It is not even the direct result of the pandemic. The collapse is the result of a deliberate policy choice, which is itself a radical novelty. I feel like the author needs to acknowledge that not making a choice is still making a choice. Yes, the current situation is the result of a deliberate policy choice. The alternative, BAU because a government chooses not to shelter in place, could also result in a similar economic situation, plus healthcare being overwhelmed and an order of magnitude (base 10) or more increase in death rate. I wouldn't be surprised if the overall economic harm from choosing to do nothing is greater than the overall economic harm from choosing to shelter in place. The worst part is, the governments that choose to do nothing can actually make the economic situation worse for everyone else because they aren't doing anything to slow the spread of the virus.