On this blog, I've talked about the Mathematics of Pandemics. I've even talked about the Politics of Pandemics. I'm long overdue to discuss the "Economics of Pandemics;" however, theorizing the potential effects of an inadequate response was pretty pointless, as anyone who has lived through the Great Recession would tell you. After all, "ignorance on fire is sometimes better than knowledge on ice," as the saying goes.
Regardless of whether or not our economic response to COVID was sufficient, the discussion was always framed in a false dichotomy: protecting the vulnerable versus protecting the economy.
It doesn't take a genius to know that 2020 has been a year for the United States economy. Tens of millions were encouraged or forced to remain indoors in an attempt to slow the spread. Only a few industries/businesses were allowed to stay open, as they were classified as "essential businesses." The longest expansion in U.S. history came to an end in Q1 2020, which resulted in a -5.0% contraction in economic activity (followed by a -32.
We're all in this together, except when we need to score political points against our political enemies.
You keep using that phrase, but it's not clear you understand what it means...
Lying with statistis - Case 1324
How we respond to infectious dieases is probably more important than the diease itself.