russ_watters
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Yes, I don't want to speculate much on individual motivations, but suffice to say economic and just general societal disruption issues likely weighed heavily. But only vaguely and qualitatively.Ygggdrasil said:One could argue that until maybe a week ago, decision makers had been weighing too heavily on the side of avoiding economic costs (I'm speaking mostly from the perspective of decisions made in the US), and that has contributed to the point we are at now.
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However, while there has been a lot of news coverage over the potential health consequences of the coronavirus, I agree that I have not seen too much coverage forecasting the potential economic consequences, so I do agree that there should be more discussion of the costs/benefits.
That is an issue of both law and business. Businesses - including sports leagues - essentially have no choice but to remain open until ordered to close. To do otherwise is financial suicide. So "recommendations" from government in that regard are totally pointless.Major sports leagues were going against recommendations to hold games without fans right up until the point that a player in one of the leagues was diagnosed with the virus, which forced the NBA to shut down, and other leagues followed. Similarly, the Presidential administration had seemed to focus mostly on downplaying the risks of the Coronavirus to avoid panicking the markets versus warning the nation of the potential for severe disruption.
I'm not clear on what the powers of government are in this regard (the law side), but obviously governments can easily close government functions (such as schools). Ordering businesses to close is harder, but I'm sure there is a mechanism (or several), I just don't know what they are. The city of San Francisco is attempting it, though.
To that end; on Saturday the Mayor of Philadelphia suggested everyone should go out to eat at restaurants (and be sure to tip your wait staff!) and on Monday, the governor of Pennsylvania ordered all of them to close their dining rooms.
Just to be clear: I also believe we are already in a recession. My question was whether the recession would still have happened without those government interventions.I agree here. The economy is global and interconnected. The Coronavirus has already done huge amounts of damage to the Chinese economy, and the effects of the virus and lockdowns in Europe are likely damage the global economy further, so this would have to also be considered in judging the effects of policy and its effects on the economy.
