COVID lockdowns (1) threw millions out of work, (2) increased police harassment of peaceful people, (3) cut people off from key institutions that reduce social conflict. This made a volatile situation far worse.
If we do not correctly take into account the opportunity cost, in terms of lives that can be lost from lockdowns, then we will most likely continue to make bad decisions in the future.
Americans were once harangued by government "experts" about the need to slow down on highways in order to save lives. Few listened. Today, laws demanding everyone "stay at home" may suffer a similar fate.
Governments often demand that you "ask what you can do for your country," but those governments never guarantee us anything in return for our sacrifice.
Although national tragedies tend to bring a country together, it seems clear that the coronavirus will leave America as divided as it has been in modern history.
Hacking off soldiers' limbs was a favorite technique of Civil War surgeons, largely because doctors wanted to avoid blame for later cases of gangrene. So doctors erred on the "safe" side. Many patients may have disagreed.
With their bizarre and extreme lockdowns, governments are forcing very low-risk populations to endure social isolation and unemployment. The mental health effects will be significant.
The eurozone needs to understand that if it decides to increase taxes to address the rising debt due to the COVID-19 response, its ability to recover will be irreparably damaged.
