3 ms·
Economic effects are still going to exist. This is a tautology. What matters is the change or trade-offs in effect from taking one course of action or another.
by zaroth 6y ago
Economic effects are still going to exist. This is a tautology. What matters is the change or trade-offs in effect from taking one course of action or another.
We have over 20 million unemployed (probably a significant undercount) through a self-inflicted lockdown in just a couple months. Leading economic experts such as the US Secretary of the Treasury and Chairman of the Federal Reserve have warned strongly of “permanent economic damage” if we continue the lockdown. I would speculate this lockdown is firmly ushering in the next era of “essential” mega corporations and the utter destruction of small business.
And in New York, the majority of new cases in the last few weeks have been from people “strictly observing social distancing.”
Like focusing a laser increases the energy that can be brought to bear on a single point and magnifies the overall effect, so too can highly targeted common sense measures save more lives than this “utter bullshit” general lockdown.
I’ll give the specific example again. While we’re doing ~30k tests a day nationwide, we still haven’t tested every nursing home patient and worker. In fact, NY Times reports many nursing homes have not gotten access to barely any testing at all, even for their recently deceased. So a sub-population of 1.3 million residents is bearing 35% of total fatalities (in 14 states it’s more than 50% of all fatalities) and this lockdown diverts massive resources and energy away from saving those lives.
Do I have that right? 0.4% of the population has seen 35% of the total deaths? Over-represented by 87x. By the way that’s an undercount because only 33 states actually break out data for nursing home deaths. But instead the political response is fear mongering, preaching a new normal, and shaming people who go to the beach.