"If 1 life costs $10M, economists say keep the US closed"
Alan Krupick is quoted in E&E News article on cost-benefit analysis of reopening the economy after COVID-19.
Alan Krupick was quoted in E&E News article on cost-benefit analysis of reopening the economy after COVID-19. Listed below is the full quote:
“Alan Krupnick, a senior fellow with Resources for the Future who served as a senior economist at the White House under Clinton, said it's not up to Trump to end the shutdown.
‘I don't really think this is the way you should do cost-benefit analysis for that issue. Because the economy is not going to start up even if Trump wanted to start it up tomorrow and gave up on social distancing; people wouldn't give up on social distancing,’ Krupnick said. ‘And things could not start up until we're on the downside of that hump.’
Rather than determining when to reopen the economy, he said, models could help guide how to phase in economic activity while minimizing risk.”
Read the full article here.
