[T]he key is not to damn the panic over the virus, but to understand and accept it—while reassuring Americans that all that can be done is being done, and what downturns they now experience will soon be overshadowed by even more jobs and greater economic expansion and wealth creation to come.As usual with anything written by Hanson, read it all.
We sometimes forget, in legitimate fears of the coronavirus, that every action prompts a reaction and the massive curtailments of the U.S. economy can have as many health consequences as the virus itself—if millions lose income and jobs, become depressed in self-isolation, increase smoking, and drug and alcohol use, and postpone out of fear necessary buying and visits to doctors and hospitals for chronic and serious medical conditions unrelated to the virus.
In addition, it is not wrong to remind the public that current but once caricatured policies of secure borders, targeted travel bans, demands for transparency and symmetry from major U.S. trading partners, recalibration with China, and a return of manufacturing and assembly of key U.S. industries, from high-technology to pharmaceuticals, was long overdue—and must continue to ensure U.S. security and the long-term health of its people.
Thursday, March 19, 2020
VICTOR DAVIS HANSON: America in a new upside-down world.
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