The most contentious debate
surrounding the Covid-19 pandemic comes down to a simple proposition: our health
vs. the economy. Which is more important? Well, they are both important. So,
the question becomes how to preserve one without destroying the other.
Reaction to the invasion of the silent killer was
horror at the rapid spread of the virus and its lethality. New York City quickly
became the epicenter of the battle and led to Governor Cuomo’s decision to lock
down the whole state. Other hot spots like New Orleans and Michigan soon
followed suit. It wasn’t long before every state had issued a similar directive.
Stopping the spread of the disease had become a singular, overriding objective.
Concern for the economy was secondary.
It was apparent right from the start
that the country had been ill-prepared to fight such an epidemic. President
Trump wisely closed our borders on January 31, but that didn’t prevent
infections from spreading rapidly. Shortages of essential materials had
governors crying for federal assistance to provide test kits, masks, gloves,
gowns, and ventilators. Even the availability of hospital beds became critical
when the number of patients threatened to exceed existing capacity.
Yet, the national response was
admirable. By mid-April, there were no longer any shortages of critical
materials, and even testing was catching up. At the same time, the rates of
infection, hospitalizations, and fatalities had come down dramatically.
By then, unfortunately, the economy
was in shambles. Shops and businesses were closed, many permanently; unemployment
numbers were headed for double digits; the trillions of dollars thrown at the
problem by the federal government provided some help, but no solutions. Recession
loomed. Even Depression. It was time to reopen the economy, to put people back to
work, to relax the rules on self-confinement.
The debate heated up. How do we
restore the economy without causing a resurgence in infections and deaths? How
fast and how far do we go? On the advice of his health experts, President Trump
advanced a three-stage plan to get the country moving again by May1.
Some opponents, particularly
Democrats and the mainstream media, cynically see a prolonged economic crisis
as a political opportunity to inflict damage on the president; the worse the economy
looks in November, the worse Trump’s re-election prospects will be.
Others see mitigation (stay-at-home
rules, banning crowds, limiting the re-opening of non-essential businesses) as our
best chance to eradicate the disease. But there is a fatal flaw in that
argument. Covid-19 is not going away. Mitigation only postpones its return; when
personal distancing is no longer mandated, the disease will spread once gain.
There are only two ways of slowing
the spread of Covid-19: vaccination and herd immunity (as more people get
infected, the fewer people there are to pass it on to). While we wait for an
effective vaccine to be made available to the masses, we may see herd immunity
develop naturally. But for that to happen, an awful lot of people will need to be
infected. As Sweden has done, we would let the virus play out, run its course.
This solution may not be as horrible
as it sounds. First of all, we may be much farther advanced on this road than
we think. We calculate the mortality rate of Covid-19 as the number of deaths
(the nominator) compared to the number of infections (the denominator). Tests
now being conducted randomly are beginning to show that we have under-counted
the denominator in a significant way. The tests seem to indicate that there are
far more infected people than we realized. These infected people are
asymptomatic: they have (or had) the disease, but few or no symptoms, and,
because of that, have never been tested and therefore never added to the denominator.
That’s important, because these
people have (or will have) developed anti-bodies that give them immunity to the
disease and make it impossible to transmit it to others. That being the case, a
resurgence of the virus will not be as severe as feared; there will be no need
to resume the lockdown.
We may, of course, see a spike in hospitalization
rates in some places. But we have learned an awful lot these past few months on
both treating the sick and mitigating the spread of the disease. We now know the
people most susceptible to severe illness and how to minimize their exposure; testing
will help identify those who need to be quarantined until they have recovered and
developed anti-bodies; we will have to apply common sense rules to manage
crowds at concerts and sporting events; and people will have to continue healthy
practices in their daily lives.
There is no reason we cannot once
again have both healthy lives and a healthy economy.