The hysterical models that have shut down the world forgot to account for the millions of healthy people at very low risk of serious complications from coronavirus whose livelihood were destroyed.
But Science means never having to say you're sorry!
But Science means never having to say you're sorry!
Panicky statists who don't understand the complexity of markets imagine that an economy is like a game that can be paused and resumed at will. Stay home for 3 inconvenient months then life gets back to normal. But markets are not a simulation, they're more like a living ecosystem
As an ecosystem markets are made up of many living organisms, each of which is only able to survive because it has managed to find a place and a way to produce something valuable to others in this highly complex order. These jobs & firms are very hard to build but easy to destroy
As the world is still operating on a primitive & highly fragile monetary system optimized for govt control rather than individual prosperity, govt money is terrible for saving. Very few people &firms have enough cash balances to survive weeks of no revenue
Economic production is a highly intertwined & complex structure. Each business that's gone also harms many others. Being able to establish a new ecosystem and production structure for everyone is going to be a very long &arduous process, even if all restrictions are removed today
You cannot just freeze a forest ecosystem for three months and expect all living organisms to get back to life. Many will die, and it will take a very long time for replacements to grow.
The panicky virus hysteria will cause far, far more damage & destruction than the virus.
The panicky virus hysteria will cause far, far more damage & destruction than the virus.
This paper suggests unemployment causes death.
Can a billionaire plz fund statisticians & graphic designers to make dumb eXpOnEnTiAl projections of death from unemployment to scare people?
It can't possibly be dumber than virus projections & those worked
ncbi.nlm.nih.gov/pmc/articles/P…
Can a billionaire plz fund statisticians & graphic designers to make dumb eXpOnEnTiAl projections of death from unemployment to scare people?
It can't possibly be dumber than virus projections & those worked
ncbi.nlm.nih.gov/pmc/articles/P…
A lot of people with bullshit fiat jobs which can be done from home had imagined that panicking is largely cost free. But as the second & third order effects of this calamitous global suspension of work intensify, they might be surprised to get a very heavy bill.
File under: Panicky statist idiots who don't understand economics.
30% drop in GDP doesn't mean everyone consumes 30% less plastic crap they don't need.
It means the destruction of the livelihood, families & communities of a large segment of the population. It's not "fine".
30% drop in GDP doesn't mean everyone consumes 30% less plastic crap they don't need.
It means the destruction of the livelihood, families & communities of a large segment of the population. It's not "fine".
