The mortality rate of Covid-19 is rising with age. The cost of the economic shutdown declines with the number of people not subject to the shutdown. Consequently, there is a unique optimal cutoff age under which people should be free to carry out normal economic activity (if they want).
A complete shutdown, as some people advocate and some countries practice, may lead to an economic depression and civil unrest, looting, and a breakdown in law and order. Poor, desperate and hungry people may resort to looting, and the self-employed sector of the economy may be partly wiped out with grave social consequences.
A complete shutdown benefits older people with means at the expense of young people whose economic future is being ruined. Western governments are captured by older people—mostly bureaucrats—with steady incomes and guaranteed jobs (This also includes tenured university professors)…
To read the entire article from ProMarket, click https://promarket.org/an-alternative-to-complete-shutdown-let-younger-people-work/
