Saturday, January 23, 2021

Tag: We Can’t Just “Restart” the Economy Where We Left Off

We Can’t Just “Restart” the Economy Where We Left Off

by Frank Shostak, Mises Institute:

The imposition of lockdowns to counter the spread of the infection from the coronavirus is likely to severely damage the real economy. As a result of these lockdowns, economies have ground to a total halt. The production of goods and services has stopped while at the same time the enhancement and improvement of productive infrastructure has been terminated.

Does it make much sense to counter the damage caused by the virus by stopping the economy? It is akin to trying to fix a headache by chopping one’s head off.