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The voluntary reduction in economic activity is far less disruptive, and extreme, than the mandatory reduction caused by indiscriminate lockdowns. When volunta
by CryptoPunk 6y ago
The voluntary reduction in economic activity is far less disruptive, and extreme, than the mandatory reduction caused by indiscriminate lockdowns.
When voluntary, each individual can judge whether a particular activity should be continued based on their own circumstances and the particularities of that activity, and give up those activities that provide the least economic return relative to risk incurred.
A cookie-cutter rule OTOH has no such intelligence, and leads to a massive amount of waste, from critical activity being prevented that would have provided a large risk-adjusted social benefit.