Coronavirus: Heath and Economy
The coronavirus pandemic is gradually becoming a major event in the recent history of our planet. Although by absolute numbers the common flu statistically looks by far more dangerous than the coronavirus the latter has not yet revealed all its sinister shades. At present we may say with sufficient likelihood that it is more contagious than the flu and directly attacks lungs (with severe consequences for some percentage of the infected people).
As a result many countries have introduces city lockdowns, travel restriction, even martial laws. Unprecedented measures have been taken to contain the spread of the disease. Since an infected person may transmit the virus during the phase when she does not have any symptoms the temperature check-ups introduces at the airports, larger buildings, etc. have not been particularly effective in identification of the coronavirus bearers.
With no proven medicine to help people with pneumonia caused by the virus and no vaccine in sight we all find ourselves in a truly precarious situation. Being highly communicable the coronavirus threatens to infect almost all the people in the word unless even more rigorous and uncompromising policies curbing human interaction are brought in.
These policies, however, will destroy supply chains and many small and medium businesses will be unable to pay their debts and will go out of business. The tremendous economic collapse is looming large. Giving that the coronavirus lethality rate is about 4% and that more than 80% of infected people do not even notice being sick or expose mild symptoms, the economic collapse may cause indirect death through impoverishment, lack of care, etc. of more people than may have died from the coronavirus should no curtailment on economic activities have been introduced. On the other hand, if we were in an unrelenting economic slowdown at the end of 2019 and a new economic crisis was coming anyway, the policies to fight the coronavirus at the expense of supply chains, etc. might be justified.
It is interesting that the recent issue of the Harvard Business Review (March/April 2020) contains no words about the pandemic. It is truly unbelievable. Judging from the presented articles creating a trans-inclusive workspace is apparently more important than the crumbling of the world economy. To learn about the spread of the disease you may want to check Johns Hopkings University web-site: https://coronavirus.jhu.edu/map.html . The economic impact of the coronavirus pandemic may be ascertained by consulting the following link: https://www.cnbc.com/2020/03/12/coronavirus-impact-on-global-economy-financial-markets-in-6-charts.html