Extremely sobering new analysis via my colleagues @lhsummers & @Cutler_econ in @JAMA_current concludes that SARS-CoV-2 is a "$16 Trillion Virus" ja.ma/3diC0U9 1/
The economic impact of the COVID-19 pandemic is huge:
1) $200,000 per family; or
2) 90% of a year’s GDP; or
3) 4 times the output loss of the Great Recession; or
4) 2 times the cost of all wars since 9/11; or
5) roughly the cost of climate change in the next 50 years. 2/
1) $200,000 per family; or
2) 90% of a year’s GDP; or
3) 4 times the output loss of the Great Recession; or
4) 2 times the cost of all wars since 9/11; or
5) roughly the cost of climate change in the next 50 years. 2/
About half the 16 trillion dollar [sic] economic impact of COVID is lost GDP, and the other half is the various health consequences. 3/
The health impact includes cumulative lost years of life, assuming 625,000 deaths by the end of the pandemic -- which is within the range of what I also think is possible, as discussed in #APOLLOSARROW -- and also includes the disability left behind in millions of people. 4/ 
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