Hollstadt Consulting CEO Molly Jungbauer has had to let go 30 of the 150 employees at her St. Paul, Minnesota firm to weather the drop in revenue from travel industry clients because of the coronavirus.
FILE PHOTO: People gather at the entrance for the New York State Department of Labor offices, which closed to the public due to the coronavirus disease outbreak in the Brooklyn borough of New York City, U.S., March 20, 2020. REUTERS/Andrew Kelly/File Photo
And elected U.S. politicians entrusted with public welfare are making calculations centered around the question: How many possibly preventable deaths are acceptable, as weighed against millions of jobs lost and trillions of dollars of economic output foregone? Other governors in states with fewer cases are forging ahead with plans to try to limit both deaths and economic damage.
“I don’t believe it’s prudent to try to shelter in place until a vaccine is there,” Walz said. “I’m asking you to buckle it up for a few more weeks here.” Coronavirus is about ten times deadlier than the flu, killing one of every hundred that get it, according to Anthony Fauci, the top U.S. infectious disease expert. Given Walz’s estimate of 2.4 million Minnesota residents infected, that means 24,000 dead.For a growing chorus of economists, the notion of weighing deaths against the economy is fundamentally flawed.
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