Economics of covid19

[John-G]

I was wondering if anyone has seen a calculation of the deaths per dollars lost in the economy from the shutdown. If anyone can do the calculations or seen one done online, please post it in this thread.

I would like to see how many billions we are spending per death. Also add the 2 trillon(or 6 trillion) borrowed/printed for the bailout. Leave your calculations in the comment. Thanks

[swissaustrian]

I was wondering if anyone has seen a calculation of the deaths per dollars lost in the economy from the shutdown. If anyone can do the calculations or seen one done online, please post it in this thread.

I would like to see how many billions we are spending per death. Also add the 2 trillon(or 6 trillion) borrowed/printed for the bailout. Leave your calculations in the comment. Thanks

It should be calculated on a per life year won basis, not on a deaths prevented basis.

Most dead people are very old and have multiple pre-exisiting conditions.
I have supported a friend doing these charts: https://public.tableau.com/profile/v...ngondeathcases

In Switzerland, an economist estimated that we are currently spending 50 million USD per life year won. Nobody would pay that much for a pill.
https://www.nzz.ch/video/nzz-standpu...ona-ld.1549929

[euphemia]

One cannot put a dollar value on human life. All lives are precious.

Define very old. Joe Diffie was 61. That’s not very old.

[jmdrake]

I was wondering if anyone has seen a calculation of the deaths per dollars lost in the economy from the shutdown. If anyone can do the calculations or seen one done online, please post it in this thread.

I would like to see how many billions we are spending per death. Also add the 2 trillon(or 6 trillion) borrowed/printed for the bailout. Leave your calculations in the comment. Thanks

One cannot put a dollar value on human life. All lives are precious.

Define very old. Joe Diffie was 61. That’s not very old.

I agree. The real calculation should be death for death as in "How many people might die from starvation if we continue locking everything down." That and "What are ways to get better results without simultaneously destroying the economy."

Case in point.

[swissaustrian]

One cannot put a dollar value on human life. All lives are precious.

Define very old. Joe Diffie was 61. That’s not very old.

Median age of death here in Switzerland: 84
Average life expectancy: 84

Here are the stats for various countries. I was involved in this visualization, click the age distribution menu: https://public.tableau.com/profile/v...ngondeathcases

Health and life insurance is based on the comparison between current age and life expectancy.

[ClaytonB]

One cannot put a dollar value on human life. All lives are precious.

Define very old. Joe Diffie was 61. That’s not very old.

Actuaries would disagree. Human life is precious because we are made in the image of God and, for that reason, there is no earthly price that can be put on the human soul. But the human body is temporary and, being a material object, it is subject to all the same economic principles as any other material object. In short, the value of your bodily lifespan can absolutely be measured in dollars.

[ClaytonB]

It should be calculated on a per life year won basis, not on a deaths prevented basis.

Most dead people are very old and have multiple pre-exisiting conditions.
I have supported a friend doing these charts: https://public.tableau.com/profile/v...ngondeathcases

In Switzerland, an economist estimated that we are currently spending 50 million USD per life year won. Nobody would pay that much for a pill.
https://www.nzz.ch/video/nzz-standpu...ona-ld.1549929

I'm willing to bet that, once all the costs are counted and the size of the at-risk group is correctly measured, the number will be far, far higher than 50M / life-year. I will not be shocked if the costs run into the 1B / life-year range. I can't speak for other countries, but what is happening in the US is absolutely bonkers.