The price of pandemic restrictions REVEALED: Covid-19 measures cost Massachusetts residents $2,862 each in early 2021 – nearly THREE times more than those paying for Mississippi’s lighter lockdown, study finds
- The researchers totaled the costs of closures in shuttered businesses and lost jobs
- Shutdowns plunged Hawaii’s economy 4.2% in early 2021; Utah only lost 2.1%
- Massachusetts residents were hardest hit, with a personal loss of $2,862 each
- Those in Mississippi came off the worst, each losing $1,004 in the first quarter of 2021
- States with ‘less stringent Covid mitigation strategies’ fared much better economically, study finds
- It is unclear if the loss was worth the benefits in lives saved, he adds
Covid-19 security measures cost Massachusetts residents $2,862 each in lost economic growth at the start of 2021 – nearly three times more than for residents of Mississippi, with its light lockdown, according to a recent study.
Researchers from the Center of the American Experiment, a conservative think tank, have estimated the economic cost of closed businesses and lost jobs due to each state’s lockdown measures from January through March, 2021.
They then estimated the cost for each resident of those states — a family of four in Massachusetts lost $11,448, while a comparable household in Mississippi lost just $4,016, according to the 42-page document.
While not exhaustive, the study offers perspective on how lockdowns affect economic growth, and therefore the population as a whole, and raises questions about whether tighter lockdowns have saved enough of lives to justify the costs.
The Minnesota-based think tank has estimated how much money each state’s residents have lost due to economy lockdown restrictions
“The decisions to shut down large parts of the economy because of the pandemic were not gratuitous,” said researchers at the Minnesota-based think tank.
“States that used less stringent Covid mitigation strategies fared much better in gross domestic product growth.”
The researchers focused on their own state, Minnesota, where relatively strict anti-Covid lockdown measures took a 3.1% share of the economy and cost each resident some $1,866 in early 2021. according to the study.
“Public policy should be judged on its costs as well as its benefits,” the study says.
“With this research, we can now begin to answer the question of whether the costs of these policy responses — $7,464 for a family of four in the first year of the pandemic — were worth the benefits.”
Whether strict lockdowns were an effective pandemic strategy, or whether they caused too much economic suffering, has been debated since Covid-19 swept the world in early 2020.
No study has come up with a definitive answer.
The research comes as America has largely moved on from the pandemic, as daily infections dwindle and people return to schools, offices and grocery stores, mostly without the masks that have been a feature. of the pandemic.
The Minnesota-based think tank found that Hawaii’s economy had been hit the hardest by the lockdown measures, with a 4.2% drop in revenue at the start of 2021.
A closed business center during the coronavirus pandemic. Whether the shutdowns were an effective pandemic strategy or whether they caused too much economic suffering has been the subject of debate since Covid-19 swept the world in early 2020.
A protest against strict Covid lockdowns in St. Paul, Minnesota, in April 2020. Lockdowns cost a typical family of four $7,464 in lost production, according to a recent study
More than 330 people die on average each day from Covid-19, according to data from the Centers for Disease Control and Prevention, with the national death toll standing at more than 1.06 million.
This month, the White House urged Americans to get updated Covid-19 boosters by Halloween to have maximum protection against the coronavirus by Thanksgiving and the holidays, and warned of a season of “difficult” viruses to come.
The World Health Organization declared this week that Covid-19 remains a global emergency, nearly three years after it was first declared.
The UN health agency is calling on nations to remain vigilant and push their most vulnerable populations to get bitten.
Manhattan, New York was deserted on Black Friday, November 27, 2020. The biggest retail and tourist day of the year was almost entirely dampened by the coronavirus, shrinking the economy by 3.5% the state at some point, according to the study