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$169 billon for 29,000 lives? Study calculates cost of US shutdowns

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https://news.yahoo.com/169-bn-29-000-lives-013740202.html

 

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There's little doubt that government-ordered business shutdowns to stop the spread of Covid-19 damaged the US economy, but the exact cost has not been clear.

Researchers from HEC Paris business school and Bocconi University in Milan have reached a sobering calculation: the closures beginning at the pandemic's onset in March through May saved 29,000 lives -- at a cost of $169 billion, or around $6 million per person.

"Governors saved lives on the one hand, but reduced economic activity on the other," Jean-Noel Barrot, a professor at HEC Paris and member of France's National Assembly, told AFP.
There's little doubt that government-ordered business shutdowns to stop the spread of Covid-19 damaged the US economy, but the exact cost has not been clear.

Researchers from HEC Paris business school and Bocconi University in Milan have reached a sobering calculation: the closures beginning at the pandemic's onset in March through May saved 29,000 lives -- at a cost of $169 billion, or around $6 million per person.

"Governors saved lives on the one hand, but reduced economic activity on the other," Jean-Noel Barrot, a professor at HEC Paris and member of France's National Assembly, told AFP.
How to address the world's largest coronavirus outbreak has become a vexing, politically charged question in the United States, where the virus has infected more than 12.2 million people and killed nearly 257,000.

Virus cases are surging nationwide, prompting many states to again implement restrictions on businesses.

But Barrot warns that changes in Americans' behavior may make renewed business restrictions less effective.

"As people become, perhaps, more responsible, as they wear more masks and so on, the effect that we're seeing on infection is going to probably go down," he said.

- Unprecedented shutdown -

The March orders were applied unevenly by state and local governments, but caused unprecedented disruptions to the world's largest economy, prompting a debate over the government's role in forcing people to change their lifestyles in the name of public health.

Critics have said the restrictions, which were relaxed to varying degrees in the spring and summer, are a costly assault on personal freedom, while supporters say they're one of the ways the out-of-control virus can be contained.

A June study published in Nature found that without social distancing and business restrictions, the US would have seen cases hit 5.2 million in early April, rather than their actual level of around 365,000.

 

 

:lol:

lets shut it down again!!

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3 minutes ago, supermike80 said:

If we can save ONE life!!!

Exactly! 1 life is worth $12 Trillion! 40 Trillion! 800 Gabillion!   We must spend what we need to save just one life!

People would change their tune in a focking hurry if every time someone died, it pulled money directly from their bank account.  I 100% guarantee it. 

 

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1 minute ago, tubby_mcgee said:

Exactly! 1 life is worth $12 Trillion! 40 Trillion! 800 Gabillion!   We must spend what we need to save just one life!

People would change their tune in a focking hurry if every time someone died, it pulled money directly from their bank account.  I 100% guarantee it. 

 

Well of course they would.    Thats true with anything.  

 

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1 minute ago, supermike80 said:

Well of course they would.    Thats true with anything.  

 

But they are yakking "spend what *we need to save a life!"
 

*we = anyone but me.

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I will say, I think in the end, the cost was/will be more than $169B.  Odds are that the lives being saved are seniors or other "at-risk" people whom are already a burden on the society... from a financial sense.  Them being alive will mean a longer financial burden.  It's also going to go higher when states start asking the Fed for money and Biden will give it to them.

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I do believe there are people out there who consume political speech as if it is truth, valid, or in some way reliable...

That being said, I am sad for people who bought into the politicization of the virus, mostly because....my god, just the stupidity .....

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The birthrate is rapidly exceeding the death rate every second even with Covid-19 in the world.

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7 minutes ago, Gepetto said:

The birthrate is rapidly exceeding the death rate every second even with Covid-19 in the world.

Well, not yet.  I mean, we weren't even in a lock down so to speak, until March.  Anyone who got pregnant because of this, probably didn't so until April.  Those kids wouldn't be born yet.  January through April 2021 would be the telling point.

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36 minutes ago, Gepetto said:

The birthrate is rapidly exceeding the death rate every second even with Covid-19 in the world.

We are all in agreement not to allow our wives to get paternity tests, right?

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43 minutes ago, Gepetto said:

The birthrate is rapidly exceeding the death rate every second even with Covid-19 in the world.

Maybe, but we have planned parenthood, though they are mostly focused on murdering minority babies

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2 hours ago, JustinCharge said:

The calculation is wrong.

It is $169 billion for trying to make Trump lose the election.

And a bargain at that.

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