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Sweden's GDP grew by 0.1% in Q1 2020 (0.4% annualized). Germany's GDP fell. https://www.cnbc.com/2020/05/29/coronavirus-swedens-gdp-actually-grew-in-the-first-q

Sweden's GDP grew by 0.1% in Q1 2020 (0.4% annualized). Germany's GDP fell. https://www.cnbc.com/2020/05/29/coronavirus-swedens-gdp-actually-grew-in-the-first-quarter.html https://www.cnbc.com/2020/05/29/coronavirus-swedens-gdp-actu.... The UK's GDP fell as well. Sweden's economy has not actually contracted by 7%. That is merely a forecast for 2020 and GDP forecasts are not particularly reliable. They probably will be down for the year, but right now there really isn't any evidence their economy has suffered the same fate as the rest of Europe.

diggan 6y ago
A bit irrelevant in this particular case. Not sure if it's mentioned in the Bloomberg version of the interview, but the Swedish interview focuses on the regret over the high death count, not the economic falloff (as Tegnell is a epidemiologist, not economist).
- logicchains 6y ago
  It's relevant because the article mentioned a 7% contraction.
- alkonaut 6y ago
  His position in the public health authority means his goal is maximizing the long term public health, e.g. minimizing all cause death (and of course other bad outcomes). That means he has to consider deaths 10 years from now due to lower healthcare spending from a recession created by the pandemic. He has to consider mental health effects of mitigations, and so on. So while he isn't an economist, he can never ignore the economy. This holistic view I think has been missing from the discussion in other countries to some degree.
  - mensetmanusman 6y ago
    Absolutely, this is the definition of ‘wisdom’
- cm2187 6y ago
  It is very relevant to the millions of people which lives haven't been wrecked by losing their livelihood as a result of a lockdown.
- noetic_techy 6y ago
  It is absolutely relevant to public policy discussion. Believe it or not public policy DOES put a price on life and for good reason: you cant mitigate away ALL risk of death. Think of speed limits or even the normal flu death rate. You can't have a functioning society if everyone lives in bubbles and drives 5mph because all life must be preserved. Even the CDC acknowledges this, and they themselves calculate on average the economic loss of a human life is 10 million USD over their lifetime. When the mitigation cost (including cascading effects) exceeds this, then its not considered reasonable at a public policy level. You absolutely have to acknowledge the economic impact of lock-down for a virus that has a 0.26% mortality rate overall.

diggan 6y ago

A bit irrelevant in this particular case. Not sure if it's mentioned in the Bloomberg version of the interview, but the Swedish interview focuses on the regret over the high death count, not the economic falloff (as Tegnell is a epidemiologist, not economist).

logicchains 6y ago
It's relevant because the article mentioned a 7% contraction.
alkonaut 6y ago
His position in the public health authority means his goal is maximizing the long term public health, e.g. minimizing all cause death (and of course other bad outcomes). That means he has to consider deaths 10 years from now due to lower healthcare spending from a recession created by the pandemic. He has to consider mental health effects of mitigations, and so on. So while he isn't an economist, he can never ignore the economy. This holistic view I think has been missing from the discussion in other countries to some degree.
- mensetmanusman 6y ago
  Absolutely, this is the definition of ‘wisdom’
cm2187 6y ago
It is very relevant to the millions of people which lives haven't been wrecked by losing their livelihood as a result of a lockdown.
noetic_techy 6y ago
It is absolutely relevant to public policy discussion. Believe it or not public policy DOES put a price on life and for good reason: you cant mitigate away ALL risk of death. Think of speed limits or even the normal flu death rate. You can't have a functioning society if everyone lives in bubbles and drives 5mph because all life must be preserved. Even the CDC acknowledges this, and they themselves calculate on average the economic loss of a human life is 10 million USD over their lifetime. When the mitigation cost (including cascading effects) exceeds this, then its not considered reasonable at a public policy level. You absolutely have to acknowledge the economic impact of lock-down for a virus that has a 0.26% mortality rate overall.