US$169b for 29,000 lives? Study calculates cost of US shutdowns | Malay Mail

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WASHINGTON, Nov 24 — 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...

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Business owners protest to remain open despite state-mandated restrictions after high case rates placed San Diego county in the most restrictive Covid-19 'purple' tier in California November 16, 2020. — Reuters pic

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

Weekly applications for jobless aid shot up, with nearly 6.9 million filings in the week ended March 28, while the unemployment rate skyrocketed to 14.7 per cent in April from its historic low of 3.5 percent in February.

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They should do a case study on the China lockdown. China is about the only growing economy. Vietnam too.

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