“Lawrence Summers, a Harvard economics professor and former U.S. Treasury Secretary, said much of this economic toll would be hitting the U.S. even without government-mandated restrictions. Fears of contagion would likely be driving people on their own to avoid restaurants, airplanes and ballparks, even without government mandates, such as mandates in New York and California that people stay home.
“A large part of the dislocation is caused by the coronavirus and not by the policy response caused by the coronavirus,” Mr. Summers said. “I don’t think we need to turn this into a dollars-versus-lives thing at this stage.” He said the best choice was likely addressing the health risk, treating the economic damage, and then working to prevent future pandemics.”
“As Economic Toll Mounts, Nation Ponders Trade-Offs,” Wall Street Journal, March 24, 2020
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