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from the lockdowns-were-supposed-to-be-just-one-part-of-defense-at-depth dept.
Economists warn of 'widespread costs' from lockdown:
Blanket restrictions on economic activity should be lifted and replaced with measures targeted specifically at groups most at risk, say economists.
[...] They argue that while the extent to which the lockdown contributed to a subsequent slowing in the rate of new infections and deaths is not easy to estimate precisely, it seems clear that it did contribute to these public health objectives.
However, they say it is "very far from clear" whether keeping such tight restrictions in place for three months until the end of June when they began to be lifted was warranted, given the large costs. They say that the costs of carrying on with such a lockdown are likely to have become significantly greater than its benefits.
Debate over the global dilemma continues.
(Score: 2) by acid andy on Sunday August 02 2020, @12:19PM (2 children)
You're absolutely right. With an ever expanding global population wages become of function of the employees' desperation rather than any reflection of the profit that their work will generate.
If a cat has kittens, does a rat have rittens, a bat bittens and a mat mittens?
(Score: 2) by The Mighty Buzzard on Tuesday August 04 2020, @03:08AM (1 child)
That why world poverty is at historic lows, is it?
My rights don't end where your fear begins.
(Score: 2) by acid andy on Tuesday August 04 2020, @06:22PM
AIUI, global absolute poverty has been decreasing largely because of greater levels of employment in developing countries like China. Just because some of those inhabitants of developing countries are earning more than they were in the past, doesn't mean those wages would appear fair to our western standards. Globalization is a race to the bottom, or, more precisely, a race to the middle, where western incomes deflate to eventually approach the rising incomes of the developing countries. I stand by my claim that it's increasingly a buyer's market for employers, particularly in the west, such that wages increasingly bear little relation to profits.
If a cat has kittens, does a rat have rittens, a bat bittens and a mat mittens?