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As governments around the world apply strict measures to contain the coronavirus, millions of people are losing their jobs and companies are facing bankruptcy. Do you think the economic fallout is worse than the health impact?

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That's the problem about a heavily-globalized international system, a bad event in a country will drag the whole thing down with it. Countries shouldn't be grumbling about the economic losses for now, they should be more worried about the lives that could potentially be lost due to the pandemic. We can all rebuild later when this is all over. It's harder to rebuild an economy if your workforce is decimated by the virus. I just hope that decision makers value human lives more than money

12 ( +16 / -4 )

The small business owner, the self employed, the gig economy, zero contracts, day workers, airlines and tourist business.

The total numbers of deaths from the virus will be less than other medical deaths but the disruptions and lock downs are hurting the economy in many countries.

19 ( +22 / -3 )

Not only now but as this virus is not going away and the societal impact is going to be long term if not permanent, we will all have to change the way we live.

And the next pandemic could be a lot worse.

7 ( +9 / -2 )

We can all rebuild later when this is all over. It's harder to rebuild an economy if your workforce is decimated by the virus. I just hope that decision makers value human lives more than money

Excellent post! Agree with Toshihiro.

9 ( +14 / -5 )

I think the next few weeks will really lay bare the inequality within developed countries and show just how many people are living from paycheck to paycheck. It's going to hit the low-paid and uninsured hard, including the nurses, supply chain workers, delivery drivers, and supermarket workers who are crucial to keeping things going at the moment.

17 ( +18 / -1 )

Are we comparing an individual's health to a business? the world economy? Not sure what this question seeks to find out but without your health, you have nothing. You may be homeless, destitute or whatever but if you are not breathing, none of that is relevant.

10 ( +14 / -4 )

Mocheake I agree with you but only to the point that our health is very important. But we need balance in our life. I am healthy, thanks God . But I’m a part time worker raising my kids. If I don’t work because my company is shutdown how can I provide for my family?!?

9 ( +10 / -1 )

The worldwide deaths are just liek a droplet in the ocean compared to the economic impact of this virus. We've seen Dow Jones plunge with more than 30% in just one month, and daily drops of nearly 13%! That's the worst single day drops since 1987. Some countries were already struggling before this impact, and may now throw them into recession because of the downside in the tourism-sector.

Factories are shutting down, and the "wheels of society" are no longer turning, this might be the worst blow to world economics since WW2! This affect everyone because of globalization, from the markets who sell goods, to the farmer in Africa and South America etc.

2 ( +6 / -4 )

Lives will be changed around the world. Change is better than loss. Would you rather lose your job or your mother or father? The answer for most would be, I would rather lose my job than my loved one.

Now may be the time for governments to come together to find a new way of trading and for an alternative to money. Money, a human invention that does not exist in nature, is a way for the human race to coexist and to enable growth through cooperation. But in modern days it has stopped being an enabling force and actually stops things that are needed from happening.

Who will pay to feed the worlds starving? Who will pay to educate all the worlds children? Who will pay to initiate the changes needed to combat global warming? We have the knowledge and the people power and the desire to fix things but what is lacking is the imaginary money to get it done. Now is the best time for change when all the worlds nations would be open for a way out of the crisis the people now face. Lack of jobs due to isolation to beat the pandemic. Who can pay rent and other standard bills with no income, for the next 6 months? Food and medicines are critical supplies but who can pay for those for 6 months with no income?

A new way must be devised that can be instituted around the globe at the same time and would be adopted by every country. With all the smart people the world has, I bet it could be done, but the main obstacle would be the rich and the mega rich.

6 ( +9 / -3 )

With stats, it's self-evident that the recession has a devastating impact on far more number of people. Quite directly and indirectly, regardless of age and place (global economy is vulnerable to "contagious" type of slump) Economic recovery takes more time while the virus may cease to spread all of a sudden when herd immunity takes hold naturally or with vaccine. In fact, people have got along or co-existed side by side with many infectious diseases instead of the latter fully terminated.

The Japan economy is vulnerable to the virus: crowded commuting, concentrated business districts. In looking at a bright side, the current crisis may be taken advantage of for drastic reforms.

0 ( +2 / -2 )

The health problem especially pneumonia broadcast in a media is caused by the virus, which can be solved by medicine soon developed in near future. On the other hand, economic fallout is caused not only by the virus itself but also by malicious rumor and absurd quarrels. The latter is much more difficult to be stopped or restrained due to rapid spreading through the Internet. The more suspicious news about the virus is on the media, the worse the economic impact gets.

-1 ( +4 / -5 )

I wonder with so many small businesses, freelance workers, and self-employed suddenly without a job and income; unable to pay rent, mortgages, loans, staff, and basic needs; if we'll see an increase in the suicide rate? With virtually no tangible government support, banks unwilling to lend money, friends and family in similar positions, will people decide that they can't go on, and take their own lives?

It's something else that we should prepare for.

3 ( +5 / -2 )

The truth is that economies around the world were already in a bad state. South Korea was no. 1 in the list of most likely to collapse. Japan has been for a very long time working on pretend money. If South Korea had fallen then Japan would have also.

This virus and the economic plans behind it have actually helped world economies contract and as such reflect better the true wealth of a country. A cynic would say that they have used the virus to re-adjust and avoid collapse in the future.

As such the virus is a godsend for the BoJ.

-2 ( +1 / -3 )

For example, in România, Italy, Spain, France, UK, Israel, etc is

In România: The Emergency Situation. We must stay at home until will be pass this situation, excepting:

moments, when we buy food and useful things for us

-go to pharmacy to buy medicine, pills

when we go at work and we cannot done telework (remote - work - online work)

-when we go around houses with pets,

-sort exit around home for individual physical activities in free air (excluding collectives)

-when go to doctor for important consult

-when we accompany to help /asist old peoples

-we cannot go in groups of more than 3 diferent peoples, maximum 3 peoples

All wrote above, are now only recomendation between 6 AM to 10 PM and obligatory between 10 PM to 6 AM.

We are waiting new rules in function of evoluting the situation, the cases. The situation can be change in one and other direction, function of new number of cases.

1 ( +1 / -0 )

After my opinion, ideea for Research, I want to be find a revoluționary trearment against viruses: Hot temperature between 57-60 degree, possibilities to anihilate (kill viruses) using certain types of frequencies of rays, certain types of vibrations, knocking the bells can destroy too many types of viruses /bacteries. Can be built devices with crystals, to emit rays on certain frequencies to save affected peoples (kill viruses and ensures immunization of peoples - The Sun rays give us D3 vitamine for immunization). I read about binding between light - Energy and matter - energetic and informațional conexions. The same procedure to clean the air. etc. All procedures can be try to use in parallel with natural / clasical trearment. In our Univers is Spirit and Matter /Matter and Energy and this can help us to find too many ways for therapy. Dumitru Constantin Dulcan - The Intelligence of Matter, The Mind of The Universe. Masaro Emoto - The Interaction of Spirit :Sentiments with Water.

-3 ( +0 / -3 )

Health above money.

3 ( +7 / -4 )

If you are dead does it really matter?

There is no point trying to save money if you can't spend it because you don't take care of your health. The same goes for family, a company or a country. Health matters first.

2 ( +5 / -3 )

Guessing most who voted Yes don't live where I live, Bergamo, Italy. If the virus continues to spread, there will be no workers to run the businesses anyway.

4 ( +4 / -0 )

FireyRei

Guessing most who voted Yes don't live where I live, Bergamo, Italy. If the virus continues to spread, there will be no workers to run the businesses anyway.

Quoting this again, because it can't be stated enough. It's okay to be cautiously optimistic about Japan's state at the moment, but be cautious.

1 ( +1 / -0 )

Dead people don't have businesses.

1 ( +3 / -2 )

The economic impact was inevitable. However, unlike global depressions in the past, recovery will be quick from this one. We just need to get 'all' people to adhere to social distancing regulations and wash their bloody hands! No host = No virus!

1 ( +1 / -0 )

I'm very glad that decisive measures are being taken to prevent spread of this virus. However am also troubled by the mental health toll on those who will lose jobs, businesses and livelihoods.

According to the World Health Organization approximately 1/2 a million people died of the flu in 2019 and over 1 million died in traffic accidents. We did not wreck the livelihoods of many millions for those issues but are doing so for this virus which has claimed 21,000 so far.

Now all lives are precious, but the question raised in this article is valid and ought to be discussed.

-4 ( +1 / -5 )

Only a selfish bureaucrat would think the economic fallout is more important than human lives. I would like to see anyone who thinks so volunteer their family first (and if the family objects, they must volunteer their own lives first), and not just look at numbers and statistics. You know, make it REAL, and then ask again. The economic fallout, especially given government priorities on how to deal with it, it nothing compared to human life.

Concerned Citizen: "I'm very glad that decisive measures are being taken to prevent spread of this virus. However am also troubled by the mental health toll on those who will lose jobs, businesses and livelihoods."

Well, that is a natural concern. What's not natural is how the reality often plays out. It's not these people who will be helped, at least not first; it is the corporations, with no promise needed to help the people you say you are concerned about. The virus is out there... there is not much we can do to control it, or avoid it. The impact on the people you mention, though, is an entirely man-made construct, and something we CAN help if we choose to.

2 ( +3 / -1 )

I am tired of hearing the sophistic comparison to annual flu, traffic accidents, etc. They will only be relevant after several years have passed. At this point in time, the relevant comparative is the Spanish flu.

if everybody had a year or more in savings job loss wouldn’t be an issue. For those with far less, realistically you will need to fall back on relatives and society to supply your needs.

0 ( +0 / -0 )

The economic impact of this crisis will be worse than the health impact, and is almost entirely of the CCP’s doing, helped along a little by the general debt problem around the world.

0 ( +0 / -0 )

pandemic. We can all rebuild later when this is all over. It's harder to rebuild an economy if your workforce is decimated by the virus. I just hope that decision makers value human lives more than money

I cannot agree any more with this comment .

I am very lucky my job is secure as I'm in agribusiness. You can literally physically feel the despair, the uncertainty and the hopelessness going around.

The economic impact of this crisis will be worse than the health impact

It's a very tough call. You're either just outright dead, or you could be in for a world of hurt due to no job, no money which leads to no house, no food, etc.... oh yes, and maybe in some cases no treatment if you are sick.

0 ( +0 / -0 )

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