The cost of reopening the economy, in lives
Relaxing business closures and stay-at-home rules could cost 13,000 lives in Texas and 12,000 lives in Georgia by September 1. But it will also preserve $3.4 billion in statewide income in Texas, and $1.7 billion in Georgia. New York’s tougher restrictions will save 5,000 lives, but cost $2.4 billion in lost income.
These insights, from a new online tool built by the Rand research organization, highlight the agonizing tradeoffs governors and mayors face as they decide whether to let businesses reopen and risk a resurgence of the coronavirus that has shut down much of the world economy. The virus has infected more than 1.2 million Americans so far, and killed 68,000. President Trump has now raised his forecast death toll to as many as 90,000, and some estimates are higher.
Most states don’t meet the Trump’s administration’s criteria for relaxing restrictions meant to contain the virus, which include a prolonged decline in confirmed cases and flulike illnesses. But states such as Texas, Georgia, Tennessee and Colorado are easing restrictions anyway, allowing some businesses to operate under new sanitary guidelines.
A simulation by the Penn Wharton Budget Model estimates 116,000 total coronavirus deaths by the end of June if tough restrictions remain in place—but 353,000 deaths if those restrictions are partially lifted. If fully lifted, with no further restrictions, deaths would spike to 895,000. That would save jobs, though.
https://finance.yahoo.com/news/the-cost-of-reopening-the-economy-in-lives-201007725.html
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And open up vacancies in many others. 