Economists and experts weigh the difficult trade-off in fighting the coronavirus.
When the governor of Georgia and other leaders press for ending government restrictions aimed at containing the coronavirus, they are proposing a huge gamble, not just for people in their own states but for millions of others nationwide.
Much of the pressure to relax social distancing measures can be traced to President Trump and to small groups that support his reelection. The economic value of a human life, measured statistically on the basis of expected income and other factors, might be in the range of $3 million to $10 million in the U.S., Barro said in an email to The Times.To determine the cost benefit, that amount would be weighed against the predicted lives saved and the economic cost of continuing to curtail large-scale social interactions and the resulting economic losses.
, economists at the Federal Reserve and MIT examined economic and mortality data for 30 states and several dozen cities that had varying practices of intervening during the 1918 flu. Beyond the numbers — COVID-19 deaths in the U.S. already have surpassed the estimated 38,800 car accident deaths last year — economists see that line of thinking as a false analogy.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Trump adviser Stephen Moore: It's time to reopen the economy because we are seeing real devastationStephen Moore discusses why he thinks the U.S. economy needs to be reopened immediately.
Read more »
Atlanta's Celeb Hairstylists & Makeup Artists Not Cool with Georgia ReopeningGeorgia Governor Brian Kemp is itching to reopen the state's economy, but many of the people who service celebs there aren't feeling it, and think it's an irresponsible move.
Read more »
Alabama senator on Georgia reopening economy: ‘It’s just crazy’Sen. Jones comments on Georgia reopening its economy: 'I think people from Alabama are going to have to ask have we traveled to Georgia or Florida lately. What they’re doing in those two states I think is just crazy.”
Read more »
Trump plans to reopen national parks as coronavirus restrictions easePresident Donald Trump says national parks are included in federal guidelines to reopen the country. But it's unclear how the reopening will proceed.
Read more »
Only You Can Reopen the EconomyEven a state that loosens the lockdown will remain mostly frozen if consumers are reluctant to participate in the economy.
Read more »
Reopening businesses will be harder than shutting them down, says disaster recovery expert'Even in sectors where we're not used to seeing it, we're going to have to see personal protective equipment on all employees,' said Disaster Recovery Institute International CEO Chloe Demrovsky.
Read more »