Are We Shutting Ourselves??

“The question is whether it is necessary to adopt the Chinese formula and shut the whole country down,” Could not we strike a kind of Nash balance in public policy-making and create incentives for people to work harder and to protect themselves from the virus without suspending economic activity? In the West those of us that live in fully operational democracies need to advocate balance in our public policies so that lockdowns serve the purpose of planting the pillars for a strong rebound. And this could be achieved if Americans get the much heralded cash aid wrapped in distance learning courses that teach them robotics, coding and software writing. But just giving the public cash — without using the opportunity to offer retraining — could worsen their predicament as many economic activities are going to use the lockdown period to deepen their digitalization. This means less traditional jobs and more digital valuable jobs.