The Corovavirus Trade-Off. Economic Growth Or Human Life?

IB Economics. Policymakers and politicians have an unenviable decision to make. The longer their economies are totally shut down because of social distancing, implemented to combat the coronavirus, the more they stagnate, the higher the rates of unemployment and the greater likelihood that businesses, once closed down, will never open up again.  In other words, the economic damage rises exponentially as time goes by. How long can we go on with our economies totally closed down? They face a classic trade-off, similar to the trade-off found in a Production Possibility Frontier:- If they want to stop the virus from spreading, … Continue reading The Corovavirus Trade-Off. Economic Growth Or Human Life?