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The virus will be around for some time. Social distancing/lockdowns are a must but we also have to slowly allow trade, exchange & markets to function. Otherwise there can be a breakdown in food & essentials supply & sharp currency depreciation. Thus, 3 steps for gradual opening.
1. After the initial lockdown restart limited plane/train services, with new rules such as planes have to leave alternate seats empty, passengers have to come 2 hours early & have medical check. In general testing should be expanded vastly. All this will get the economy moving.
2. Along with cash supplements, the poor will need direct support with food, healthcare & basic needs. If shortages appear, prices will rise & the poor, even with cash handouts, will get outcompeted. Direct support is essential at least in the short term.
3. Give financial support to small businesses to encourage them not to layoff their workers. This will no doubt expand the fiscal deficit but that is a short-run cost we have to take. We can begin to correct the deficit next year.
Footnote: Doing health checks for all passengers before flight is not absurd. (A few decades ago if you said all passengers would have to do security checks many would say that’s absurd). If the state gives incentives to a few big pharma & airline companies, it can be done.
