Survey of leading economists:
"Abandoning severe lockdowns at a time when the likelihood of a resurgence in infections remains high will lead to greater total economic damage than sustaining the lockdowns to eliminate the resurgence risk."
0% disagree.
igmchicago.org/surveys/policy…
"Abandoning severe lockdowns at a time when the likelihood of a resurgence in infections remains high will lead to greater total economic damage than sustaining the lockdowns to eliminate the resurgence risk."
0% disagree.
igmchicago.org/surveys/policy…
Survey of leading economists: "A comprehensive policy response to the coronavirus will involve tolerating a very large contraction in economic activity until the spread of infections has dropped significantly."
All but two strongly agree, or agree. The exceptions are uncertain.
All but two strongly agree, or agree. The exceptions are uncertain.
100% of leading economists agree the government should "invest more than it is currently doing in expanding treatment capacity."
Point is, these data show that ZERO actual economists believe that the economic costs of current anti-Covid measures exceed the benefits. NO ECONOMISTS are arguing for re-opening the economy.
It's pretty rare to see this degree of consensus among econs. igmchicago.org/surveys/policy…
It's pretty rare to see this degree of consensus among econs. igmchicago.org/surveys/policy…
These data confirm precisely what I was telling you five m̶o̶n̶t̶h̶s̶ days ago:
Understand the incentives: CEO's and bankers are calling for workers to be recalled. Economists—whose models also account for what's in the workers' best interests—disagree. Epidemiologists—who understand how pandemics spread—also disagree.
