Posted on 03/27/2020 12:23:13 PM PDT by Responsibility2nd
The economy isn’t helped by rushing back to work in the face of a pandemic, according to a new study by Federal Reserve researchers.
At a time when the lieutenant governor of Texas has said senior citizens would be willing to sacrifice their lives for a better economy and when President Trump has fretted that the cure may be worse than the disease, a new research paper looked at the impact of the 1918 Spanish flu on the U.S. economy.
Far from hurting the economy, what are called nonpharmaceutical interventions — for example, shutting schools, establishing quarantines and restricting business hours — mitigate economic harm as well as reduce mortality, the researchers determined.
The study by Sergio Correia of the Federal Reserve Board, Stephan Luck of the New York Fed and Emil Verner of the Massachusetts Institute of Technology’s Sloan School of Management found, on average, an 18% decline in state manufacturing output at the typical level of exposure.
Reacting 10 days earlier to the arrival of the pandemic in a given city increases manufacturing employment by around 5% in the post period, the researchers said. Implementing restrictions for an additional 50 days increases manufacturing employment by 6.5% after the pandemic abates.
(Excerpt) Read more at marketwatch.com ...
New?
Yep...let’s use 100 year old data to prove our point.
Surely, nothing has changed in the past century.
Productivity has fallen through the floor.
I get a fraction done in this "everyone WFH" scenario than I would otherwise.
At work I can get up, leave my office and go tap someone on the shoulder if need be to get something done.
Ping them all I want via Skype, they just mark themselves as "busy" or "do not disturb" and I spent exponentially more time finding someone who's "free" to get work done.
This model long-term isn't going to work. It's insanity.
Just when you think the level of stupid is topped out, it raises the bar!!
This doesn’t make any sense. Did they consider the small business owner who loses his or her business on an extended shutdown?
Throwing millions out of work and bringing the economy to a standstill won’t hurt a thing. Really. Take our word for it - we’re experts!
Sounds like something ghostwritten by the ChiComs.
Color me a tad skeptical . . .
Huh, That’s basically what I’ve been postulating.
That intervening will help the economy more than just letting the virus spread and people panicing on their own as people around them get sick.
I was thinking Dr. Pelosi.
Sick? You mean get the sniffles?
Is this a joke? Seriously?
Ha ! .. and paid for out of MegaPorkulus ?
And we know economic conditions today are just as they were in 1918, foolish man.
My husband and I are both F/T working from home now and he concurs—he’s a manager of 15—with your Skype complaint (everyone “busy.”)
I’m also a manager (of 14) but the nature of my work is different; my team is more silo-ish and we don’t need to interact all that much.
My team is now measurably MORE productive as we’ve all eliminated our worthless 1-2 hour one way commutes to the office (SF Bay Area) and we feel less tired as a result.
And the earth is flat, too.
And Biden was the top his law class.
And Dorkbama can speak without a telepromptor.
this isn’t 1919 dumbasses
We've all been WFH since March 2nd here in the US. We have offices in China, Hong Kong, Singapore and Japan. (Also all over Europe.) Our APAC folks have been WFH since early February and our EMEA folks since late February.
I'm not the only one in my management chain with this complaint.
The mitigating factor I think is this is all new and so many folks are dealing with being cooped up with kids, spouses, etc.. 24x7 and work is just taking a lower priority in their lives right now.
I'm an empty nester so I should probably have more compassion for others who aren't while trying to get through all this themselves.
Idiots. The world and the U.S. were completely different then.
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