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It did occur to me maybe a week or so ago that perhaps an economic rationalist might have a different approach to handling the coronavirus pandemic. Since the economy comes first, second and last to them, perhaps they would just let the COVID-19 outbreak run rampant?
If you imagine the graph of the economy with such an approach, it would be "V", shaped, I would imagine. I.e. a sudden drop in economic output, which quickly recovered.
That would be in contrast to the presumably "U" shaped graph of our current approach. https://twitter.com/AndyGorfman/status/1243445902536314882">https://twitter.com/AndyGorfm...
That would be in contrast to the presumably "U" shaped graph of our current approach. https://twitter.com/AndyGorfman/status/1243445902536314882">https://twitter.com/AndyGorfm...
I.e. our current approach also sees a sudden drop in economic output but that collapse in economic output remains static for an extended period of time before sharply recovering, like the imagined economic rationalist scenario.
Which approach is best? https://twitter.com/AndyGorfman/status/1243446581409562624">https://twitter.com/AndyGorfm...
Which approach is best? https://twitter.com/AndyGorfman/status/1243446581409562624">https://twitter.com/AndyGorfm...
I& #39;ve been intending to follow-up my Tweet, embedded below, for almost a week now. Hopefully I& #39;ve remembered everything that I wanted to say. Best to get it out now before events possibly overtake me. "Give a man enough rope", as they say... https://twitter.com/AndyGorfman/status/1243445902536314882">https://twitter.com/AndyGorfm...
...the following is an armchair opinion of mine, in the case of the COVID-19 pandemic by governments having unintended consequences.
A factor in my thinking is that the world is set-up this way:
Mass production
Mass consumption
Mass population https://twitter.com/AndyGorfman/status/1245898484353585152">https://twitter.com/AndyGorfm...
A factor in my thinking is that the world is set-up this way:
Mass production
Mass consumption
Mass population https://twitter.com/AndyGorfman/status/1245898484353585152">https://twitter.com/AndyGorfm...
Government interventions have broken this nexus. What happens in an extremely populated world in which people can no longer make a living, as they used to? A total breakdown could be a possibility. I.e. in otherwise, the complete destruction of capitalism https://twitter.com/AndyGorfman/status/1245899251894423558">https://twitter.com/AndyGorfm...
and of the civil society built on its foundations. That would be ironic. In the global financial crisis (GFC) it was capitalism itself which almost destroyed capitalism. This time it may the elected representatives of capitalism, our politicians which... https://twitter.com/AndyGorfman/status/1245900067749363712">https://twitter.com/AndyGorfm...
...succeed in killing capitalism.
With that in mind, I want to run with the idea that started this thread...an alternative approach to handling this pandemic, which I& #39;ll do from the comfort of my armchair.
Okay, here we go... https://twitter.com/AndyGorfman/status/1245900534839640070">https://twitter.com/AndyGorfm...
With that in mind, I want to run with the idea that started this thread...an alternative approach to handling this pandemic, which I& #39;ll do from the comfort of my armchair.
Okay, here we go... https://twitter.com/AndyGorfman/status/1245900534839640070">https://twitter.com/AndyGorfm...
Let& #39;s assume that politicians and authorities remain incompetent and national borders were not protected by closing down travel or at least testing visitors for coronavirus symptoms (one fly in the ointment of that is asymptomatic carriers of COVID-19). https://twitter.com/AndyGorfman/status/1245900888671236097">https://twitter.com/AndyGorfm...
