Re: CV and mad panic behaviour
Reply #6041 –
Hardly ... certainly not the airlines.
Professor Simon Loertscher, Director, Centre for Market Design,University of Melbourne, and Dr Ellen Muir, Stanford University, have a different view:
As a direct result of the ongoing global pandemic, we are living with an economic downturn whose scope and magnitude is staggering.
Governments around the world, including the Australian government, face a difficult balancing act – managing a serious public health crisis without causing economic and social devastation.
...
Managing the dynamics of a dangerous pandemic isn’t a familiar or comfortable experience for economists and policy makers. But neither is it a comfortable experience for epidemiologist to entertain the idea of tolerating some level of spread for a deadly disease. This is uncharted territory for all.
Given the stakes, we need to find our path fast, and learn on the go.
This crisis is different from any other in living memory. It requires adaptive thinking that accounts for complex tradeoffs between managing the pandemic and managing economic and social well-being.
This can be achieved by targeting an appropriately chosen constraint, like the capacity of the healthcare system.
Implementing this approach requires that we build new models that combine economic and epidemiological data, and collect accurate data concerning the course of the epidemic through widespread testing.
The challenge is formidable but the concerted, whole-hearted and decisive effort defeated fascism eighty years ago – so there is no reason to believe we have to surrender to this virus, or the inevitable pandemics to come in the future.
https://fbe.unimelb.edu.au/newsroom/the-economics-of-covid-19
Of course, the most compelling evidence is the fact that enterprises are happily complying with government mandates or, in many cases, pre-empting them or going beyond the mandated requirements. For example, Alan Joyce led the way in announcing that all QANTAS passengers must be fully vaccinated. The economic imperative is to keep COVID under control.