The UK government’s daily coronavirus briefing on Friday drew more attention to a question that has already been troubling many people: could the wider economic and health impacts of the fight against Covid-19 actually do more harm than the virus itself? My view, for what it’s worth, is that it is right to err on … Continue reading Could the lockdown cost more lives than it saves?
Tag: coronavirus
Is it worth it? a brief PS…
Since responding to Toby Young's article here I've come across a few interesting US papers on the economics of pandemics. These studies (which have also been picked up elsewhere) support the view that the coronavirus lockdown is indeed 'worth it'... First, a cost-benefit analysis of social distancing for the US, which suggests that the benefits … Continue reading Is it worth it? a brief PS…
Can ‘profiteering’ ever be justified?
Given that even ‘profit’ now seems to be dirty word, it is no surprise that being accused of ‘profiteering’ during a crisis is about as bad as it can get. But there are some circumstances when an increase in prices in response to exceptional demand can actually be a good thing. By definition, ‘profiteering’ is … Continue reading Can ‘profiteering’ ever be justified?
UK economy makes a handbrake turn
How hard will coronavirus hit UK GDP? This may seem like the wrong question to ask in the midst of a health emergency. The new coronavirus outbreak is a social crisis above all else. Even in narrow economic terms, some sort of hit to GDP is inevitable and even desirable: we actually want many people … Continue reading UK economy makes a handbrake turn
Plain-speaking Economics 