The Human Cost of Economic Shutdowns
Article from For Liberty by Norm Leahy.
With a handful of states opting to slowly lift the restrictions placed on businesses, the question about when others will follow suit is getting more attention – as is the notion that prolonged economic shutdowns can create lasting harm.
A San Francisco Federal Reserve study looked at pandemics going back to the Black Death in the 14th century to see how it took before nations got back to “normal.”
The authors concluded these massively disruptive health events can affect economies for up to 40 years, mainly by reducing rates of return and investment.
But what about the effects on individuals? Reason Foundation senior fellow Geoffrey Lawrence argues that long-term disruptions can inflict substantial harm on individual health and well-being across the globe:
A global collapse in economic production to 1995 levels could expose untold millions of people to conditions of extreme poverty once again. Individuals around the world could suffer the twin dangers of rising prices that result from reduced global production and falling incomes as unemployment skyrockets. Suddenly, millions of people who were out of poverty, or people who have never been impoverished, will no longer be able to afford or even find basic items they were previously able to purchase.
While federal, state, and local governments are aggressively pumping money and resources into the economy to prevent these worst-case scenarios, even the mighty American economy cannot endure a months-long shutdown.
The sooner we can safely get the wheels of commerce turning once again, the better.
This is what the Democrats have been working with China, to produce this pandemic. Biden is the top of the heap, when it comes to the wrong doing of this to the USA. If anyone votes to elect this criminal, they have to be insane or crazy, maybe both. The American people have to wake up, find out the truth about the Democrat party, they are corrupt and evil, Satan runs their organization. The government should start looking at the funding, of these Democrat campaigns, coming from China and other deplorable countries. This is what is going on America, we need to put them all in prison for their crimes, against this country.
President Trump please open up the economy NOW! Don’t play into the hands of Fauci and the Chinese communists. They want us to FAIL. They are frauds. We don’t want to wait until Fauci gets his marching orders, which won’t come until he’ll frezzesover or the Chinese communists own us.
Real wealth is the productivity of people. Lock them down and you bring the national wealth to zero. What’s your real estate worth today?