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People are psychologically averse to loss and prefer gain instead (even if the end result is the same). So here are Public Health measures explained in finance terms (assuming you have $1000 in savings):
1) Masks
If you had $1000 in your account and somebody told you that by investing $20 per month (rough cost of cloth masks) you could have $1850 (85% return) by the end of the year, how would that sound? https://www.livescience.com/face-masks-eye-protection-covid-19-prevention.html
If you had $1000 in your account and somebody told you that by investing $20 per month (rough cost of cloth masks) you could have $1850 (85% return) by the end of the year, how would that sound? https://www.livescience.com/face-masks-eye-protection-covid-19-prevention.html
2) Social/Physical distancing
If someone told you that by simply not touching your money for a year, you could make 10% return on your investment, would you do it? https://www.thelancet.com/journals/lancet/article/PIIS0140-6736(20)31142-9/fulltext
If someone told you that by simply not touching your money for a year, you could make 10% return on your investment, would you do it? https://www.thelancet.com/journals/lancet/article/PIIS0140-6736(20)31142-9/fulltext
3) Influenza vaccine
If someone told you that by paying a $50 management fee, you could have an extra $400-600 in your account by the end of the season, would you do it?
https://www.cdc.gov/flu/vaccines-work/vaccineeffect.htm
If someone told you that by paying a $50 management fee, you could have an extra $400-600 in your account by the end of the season, would you do it?
https://www.cdc.gov/flu/vaccines-work/vaccineeffect.htm
4) People arguing against public health measures often say that they are not 100% effective. This is true of course, but would you trust someone asking you to invest your $1000 savings and promising that you'll be a millionaire in the short term?
5) Besides, you are worth a lot more than $1000. How much is your lost work time worth? Whether you have to be away from work for 14 days because of COVID or because you're having a really bad time fighting influenza?
6) Think of every Public Health measure as a partial, imperfect gain, which is not cost free. You pay in small inconveniences or in small costs of masks or time to get a flu shot. But you gain in less lost time off work.
7) Nobody likes to lose, but by following Public Health measures, we all gain.
