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Lockdowns are causing the majority of economic damage. Whether lockdowns are justified anyway is a question for another discussion. But economies are hit by lo
by myk9001 6y ago
Lockdowns are causing the majority of economic damage.
Whether lockdowns are justified anyway is a question for another discussion. But economies are hit by lockdowns not the pandemic itself. Let's look at info we can find about Sweden.
Sure, people in Sweden are staying at home more, but the decrease in activity is hardly on the level of locked down countries.
"When people became aware of coronavirus around March 12, we lost almost overnight 30 per cent. It’s OK. For a couple of months, it will work. But after that it will be very, very tough,"[1]
[A pedestrian street in Stockholm on Apr. 1](https://www.telegraph.co.uk/content/dam/news/2020/04/01/TELEMMGLPICT000228902301_trans_NvBQzQNjv4Bqt7YuOpTV-OCUjzn11uechNSi7-SoHEG4mrcpQ7yfjCk.jpeg?imwidth=1400 https://www.telegraph.co.uk/content/dam/news/2020/04/01/TELE...)
[A market in Malmo during the pandemic (no exact date)](http://archive.is/2siwt/5d1b19d61fd21d052c2cc190f13f722c0bf86f4d.webp http://archive.is/2siwt/5d1b19d61fd21d052c2cc190f13f722c0bf8...)
[Pubs, eating out](https://www.bbc.com/news/av/newsbeat-52618788/coronavirus-how-sweden-is-keeping-its-pubs-and-bars-open https://www.bbc.com/news/av/newsbeat-52618788/coronavirus-ho...)
It absolutely doesn't look that Sweden's economy took a downturn because people are afraid to go outside.
Their economy seems to be hit by supply chains dependent on locked down countries being suspended[1]:
"One big reason is that Sweden is a small, open economy with a large manufacturing industry. Truckmaker Volvo Group and carmaker Volvo Cars were both forced to stop production for several weeks, not because of conditions in Sweden but due to lack of parts and difficulties in their supply chains elsewhere in Europe."
So, to reiterate, it looks very much like the majority of damage to economies are caused by lockdowns.
[1] https://www.ft.com/content/93105160-dcb4-4721-9e58-a7b262cd4b6e https://www.ft.com/content/93105160-dcb4-4721-9e58-a7b262cd4...
- JohnBooty 6y agoI don't agree with your conclusion, but I appreciate those links. Thank you.