Opinion: The economic rationale for strong action now against Covid-19
Although the economic costs of combating #Covid19 epidemic are already large and mounting, now is the time to use the U.S.'s immense resources to contain the disease and mitigate its…
As governments and communities struggle to figure out the best way to deal with the novel coronavirus, a major concern is how to balance the risk to lives versus the risk to livelihoods. In short, how do we balance the public health versus economic consequences of this pandemic?
The answer comes from a widely used economic tool, and it is telling us that extreme measures are warranted.
It is difficult to (VSL) to think about the trade-off between the risk of dying and money. For example, how much more are you willing to pay for upgraded safety features on a car?
