The Washington Post
“Given what we’re losing in GDP, we should be spending far more to develop tests”
Larry H. Summers

Economic benefits of investing in health measures going forward

In this article Larry H. Summers, ex-US treasury secretary (1999-2001) and head of the National Economic Council for President Barack Obama (2009 to 2011) claims as a priority to invest in health measures (massive tests, contact tracers, masks ...) to accelerate a safe reopening of the economy.

  • According to him, the desire to reopen the economy is based more on hopes than on facts and it is not part of a strategy going forward. Relaxation of the lockdown without investments in health measures will bring “a resurgent pandemic, dramatically lowered economic activity, or both simultaneously
  • Finally, he demonstrates that the cost of investing in health measures is small compare to current fiscal expenses needed to face covid-19 crisis and to the potential losses incurred if reopening is not safe.

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