Callous as it may sound, the economic and political impact of the coronavirus pandemic will ultimately be determined by the epidemiological and clinical data. Fortunately, in this case, the relevant statistical trends are developing in a much less alarming way than panicked media headlines might suggest.
LONDON – One death is a tragedy; a million deaths is a statistic. Whether or not Stalin actually said this, it is a cruelly accurate description of economic reality. The global panic about the new coronavirus, COVID-19, is understandable, because every premature death is a human tragedy. But, callous as it may sound, the economic and political impact of this pandemic will ultimately be determined by the numbers. Fortunately, in this case, the relevant ones are developing in a much less alarming way than panicked media headlines might suggest.
LONDON – One death is a tragedy; a million deaths is a statistic. Whether or not Stalin actually said this, it is a cruelly accurate description of economic reality. The global panic about the new coronavirus, COVID-19, is understandable, because every premature death is a human tragedy. But, callous as it may sound, the economic and political impact of this pandemic will ultimately be determined by the numbers. Fortunately, in this case, the relevant ones are developing in a much less alarming way than panicked media headlines might suggest.