Robert Carling: The economic tragedy of COVID-19

The Covid-19 virus (CV-19) is first and foremost a health crisis. But it is fast becoming an economic crisis as well. Some observers are asking whether the economic damage will be greater than the health damage. One commentator observed that “we are deliberately destroying our economy to slow the spread.” 

When the health damage could involve a large scale death toll, many people will rush to the judgement that any economic cost is a price worth paying — even if they think about it at all. That seems to be the consensus so far — but it may not stay that way as the potential enormity of the cost becomes more visible by the day and people accustomed to freedom bridle at draconian restrictions tying them to their homes and shutting down their businesses.