Thoughts on economics and liberty

Further notes on CBA for pandemic options

Apart from the outline info I provided here, I’m going to make note of further thoughts here – this is a placeholder post.

If readers have any thoughts, please add.

OTHER POSTS ON WHICH I’M COMPILING RELATED INFORMATION:
Economic consequences of lockdowns – including their regressive impacts

The prospect of inflationary expectations as lockdowns continue

Constitutional, legal and libertarian objections to lockdowns

The cost of saving lives in this lockdown is too high – RUSSELL LYNCH Telegraph, 5 May 2020

 

INDIRECT COSTS

[Some already mentioned, e.g. “being unemployed for months on end also has adverse social consequences: feelings of anxiety, inferiority and worthlessness, depression, suicidal thoughts, money worries that lead to marital conflict, breakups and violence.”- source]

Fewer resources for other emergency surgery (e.g. cancer) – leading to additional deaths

Reduced productivity from people working at home/ reduced agglomeration effects

Resources directed to otherwise unnecessary production (masks, sanitisers, gloves, ventilators)

Increased deaths from supply chain failures (this could take place at many levels, not just for essential things like drugs and PPE but things we don’t think of as essential but which can save lives).

Preprint paper states: since the full lockdown strategies are shown to have no impact on the epidemic’s slowdown, one should consider their potentially high inherent death toll as a net loss of human lives [Source]

INDIRECT BENEFITS

Reduced deaths from reduced air pollution

Better gardens at homes since people now devote more time to these house tasks

MY TWEETS

RESOURCES

“Sledgehammer” policies will destroy us; we need open economy says Johns Hopkins professor

Has the coronavirus panic cost us at least 10 million lives already? – 18 March 2020

A COVID Cost-Benefit Analysis – Robert Verbruggen, 23 March 2020

Determining the optimal duration of the COVID-19 suppression policy: A cost-benefit analysis – Anna Scherbina 27 March 2020, AIE Working Paper

Covid-19: from model prediction to model predictive control – Ingmar Nopens, 27 March 2020

The Benefits and Costs of Using Social Distancing to Flatten the Curve for COVID-19 – Thunstrom et. al. 27 March 2020, SSRN

Cost-benefit analysis for the COVID lockdown – Junkscience

Can you put a price on COVID-19 options? Experts weigh lives versus economics – Warren Cornwall 31 March 2020

Reflections on the Economic Value of Life – Max Gulker, 25 April 2020

2 Lockdown Cost-Benefit Analyses – Robin Hanson, 27 April 2020

 

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Sanjeev Sabhlok

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