A paper by Marko Kolanovic, a strategist at the investment bank, argues that governments were spooked into imposing lockdowns that were “late” or “inefficient”.
Countries around the world introduced lockdown measures as the number of coronavirus cases grew in the opening months of this year, and have seen infection rates fall significantly since.
Kolanovic says that numbers had declined because the virus “likely has its own dynamics” that are “unrelated to often inconsistent lockdown measures”.
He cites as evidence a number of places whose infection rates, or “R” values, have continued to fall despite restrictions being lifted. The study includes graphs showing numerous countries that have followed a similar pattern since easing their own lockdowns.
Partial lockdowns as well as social distancing guidelines remain in place in most countries, and German Chancellor Angela Merkel has said Europe could see a second wave of the virus if restrictions are lifted too quickly.
“Unlike rigorous testing of new drugs, lockdowns were administered with little consideration that they might not only cause economic devastation but potentially more deaths than Covid-19 itself”, Marko Kolanovic claims.
“At the same time, millions of livelihoods were being destroyed.”
Already the economic impact of the virus has forced governments to pass significant bailout packages to help workers and businesses.
Source: The Sun