Facing the Human and Economic Costs of Fighting COVID-19   [open pdf - 0B]

From the Document: "Today we live in a time of pandemic and economic recession in Canada and elsewhere. And both may get worse. There are tough choices to make, and we need to strike a balance so that measures taken today do not have even more devastating consequences in the future. In dealing with a crisis, we need the correct facts, we need to do a rational cost-benefit analysis, and we need to understand and work through our biases, to make proper policy and achieve the best result for all. We need to fight the pandemic appropriately with social distancing practices as a new way of life; we need to continue to use measures to alleviate the strains, current or coming, to our limited health care resources; we need governments to provide leadership to fight the disease, to support the financial system and economy, to alleviate the pain of economic disruption; and we need to keep the economy moving and get the economy moving again as soon as possible because of the economic and social tragedies that will come if we don't. People need to work; they need to be productive to take care of themselves and their families, and that too is great social policy. The cure to the COVID [coronavirus disease]-19 threat must not be worse, short-, medium- or long-term, than the disease. At some point, we have to restart the broader economy. A tipping point to do that will come, and I believe needs to come as soon as possible."

Macdonald-Laurier Institute
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