The crisis management of coronavirus (COVID-19) has devolved
into a debate between the scientists (more specifically the infectious disease
experts and frontline physicians) and the economists (more specifically the
conservative think tanks and leaders of corporate America). The scientists have dedicated their
professional careers to developing schemes to mitigate and control public
health emergencies like the coronavirus.
The possibility of a total economic collapse was not on their
radar.
Conversely, the economists have spent a lifetime building
economic models to maximize prosperity through market-based capitalism. Shutting down all economic activity, to
protect a vulnerable portion of the population, knowing that a deep recession
would result, was never a consideration.
Welcome to the newest incarnation of Sophie’s Choice: save
lives or save the economy. As in the novel and Oscar winning movie, both
results are desirable and the alternative is fraught with human suffering. Our
initial reaction is rightly to save as many citizens as possible. However, no
one knows the long-term economic hardships of an extended dislocation that
requires paying people not to work.
Such a dilemma did not exist a hundred years ago, at the
time of the flu pandemic of 1918. In the early 20th century, the
economists trumped the scientists because epidemiologists were in short supply. The population was largely rural and
agrarian. In the U.S., about 28% of the population of 105 million
became infected, and 500,000 to 675,000 died (0.48 to 0.64 percent of the
population). Because the pandemic passed relatively quickly, there was little
hysteria or media coverage and the economy suffered minimal damage.
Some historians believe the most lasting effect
of this pandemic was the substantial increase in the number of nurses entering
the medical profession. Physician training alone proved inadequate in
addressing the needs of large numbers of infected patients.
In hindsight,
our modern day Sophie’s Choice could have been largely avoided. I have
previously discussed the initial missteps of the Trump administration, which
insured a disastrous outcome, and will not repeat them here. At this juncture,
finger pointing at government’s failure to act appropriately is not helpful and
should be left for the voters in the upcoming election.
The fast moving
reality on the ground must now be addressed in a rational manner. The first meaningful effort by the White
House was a call for a lockdown that would last for 2 weeks, with a quick V-shaped
economic recovery. Within days, the scientists had data from other countries
and more testing from urban areas. They determined that the most positive
outcome was a 2-3 month lockdown followed by a much slower U-shaped recovery.
President Trump
initially resisted the science and used his daily press conferences to push for
a reopening of the economy on a rolling basis in areas less affected by the
virus. Over time, he has reluctantly
come to accept the need for a longer lockdown in order to avoid mass
fatalities.
It would be a
mistake to not consider our Sophie’s choice between the science view of saving
lives and the economist view of saving the economy in political terms. Democratic
states with highly vulnerable urban populations like New York and California
rushed to lock down their populations.
Conversely, governors from less populated red states initially took
little or no action to isolate their citizens. Liberty University, the private
evangelical Christian university in Lynchburg, Virginia, was the only large
academic institution to welcome students back from spring break to the horror
of local officials.
Traditionally,
conservatives worry about massive governmental intervention and its long-term
impact on the economy. The pandemic has
been no exception. Many Republicans
believe it is better to suffer some immediate casualties (It is only the flu.) rather
than to risk the consequences of economic meltdown.
On the other
side of the political spectrum, those on the left are all in with the
scientists. Why wait to save lives?
Moreover, shutting down the economy for an extended period has lead to
government intervention in the form of a massive rescue plan and social safety
net package. Progressives know it is
difficult to remove benefits that favor workers once they are in place.
Helping the
scientists to win the day over the economists has been the undeniable fact that
hospitals and medical staff were unprepared for the onslaught of infected
patients who require long ICU treatment on ventilators. Eventually, the
President and the economists conceded that a more aggressive lockdown was
necessary. When the hospitals gain the
upper hand, the economists will seek to shorten the lockdown and resume
economic activity.
The nonpolitical
response going forward would be a national effort to optimize public health
while minimizing economic harm. This thinking often seems in short supply. To
succeed, scientists and economists must get on the same page and be prepared to
compromise on their life’s work to help the nation recover.
There are two
critical non-partisan governmental actions that now make sense.
First, as we
make our way through the lockdown period, there must be a national consensus on
what economic activities are the most essential to getting the economy back on
track.
Second, we must
assume that the virus will return later this year as other pandemics have done
in the past. This will require an “all
in” testing, contact tracing and isolation program that can quickly be
implemented across the country.
Our early
missteps from January must not be repeated.
Following an initial recovery, the only way to avoid a return of Sophie’s
choice will be to avoid a recurrence of widespread infection. This must be the singular goal until a
universal vaccine is developed.
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