As government mandated lockdowns to combat the coronavirus pandemic affect a rising share of the global population, fewer will die of COVID-19, as well as other transmissible diseases. But how should we weigh those benefits against the costs of unemployment, social isolation, and widespread bankruptcies?
MELBOURNE/OXFORD – As of today, almost half the world’s population, nearly four billion people, are under government-mandated lockdowns in an effort to stop the spread of the COVID-19 coronavirus.
How long should the lockdowns last? The obvious answer, to paraphrase UK Prime Minister Boris Johnson, is until we’ve “beaten” COVID-19. But when exactly will that be? Until not a single person on Earth has it? That may never happen. Until we have a vaccine, or an effective treatment? That could easily be a year away, perhaps much longer. Do we want to keep people locked down, our societies shuttered – restaurants, parks, schools, and offices closed – for that long?
It pains us to say it, but US President Donald Trump is right: “We cannot let the cure be worse than the disease.” Lockdowns have health benefits: fewer will die of COVID-19, as well as other transmissible diseases. But they have real social and economic costs: social isolation, unemployment, and widespread bankruptcies, to name three. These ills are not yet fully apparent, but they soon will be.
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MELBOURNE/OXFORD – As of today, almost half the world’s population, nearly four billion people, are under government-mandated lockdowns in an effort to stop the spread of the COVID-19 coronavirus.
How long should the lockdowns last? The obvious answer, to paraphrase UK Prime Minister Boris Johnson, is until we’ve “beaten” COVID-19. But when exactly will that be? Until not a single person on Earth has it? That may never happen. Until we have a vaccine, or an effective treatment? That could easily be a year away, perhaps much longer. Do we want to keep people locked down, our societies shuttered – restaurants, parks, schools, and offices closed – for that long?
It pains us to say it, but US President Donald Trump is right: “We cannot let the cure be worse than the disease.” Lockdowns have health benefits: fewer will die of COVID-19, as well as other transmissible diseases. But they have real social and economic costs: social isolation, unemployment, and widespread bankruptcies, to name three. These ills are not yet fully apparent, but they soon will be.
We hope you're enjoying Project Syndicate.
To continue reading, subscribe now.
Subscribe
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