Joshua Gans' Newsletter • 0 implied HN points • 25 Mar 20
- During a pandemic, the concept of trade-offs between public health and economy shifts. The pandemic alters the production possibilities set, making it crucial to prioritize health over wealth.
- In a pandemic, the production possibilities set shows that there is a significant 'bite' where choosing between preserving public health or the economy becomes an either/or situation.
- Implementing widespread and accessible testing for COVID-19 can help reduce the economic impact while maintaining public health, weakening the trade-off between the two.