We now all understand the logic of social distancing and self-isolation: until recently, unfamiliar phrases.
US Senator Dr. Bill Cassidy says that by so doing, on average, we will avoid infecting six others; which will have a greater impact than all the health workers in the country in flattening the curve as a first step to containing the virus.
If we accept the disruption this brings to all our lives, it can also have a greater impact upon the global economy than all the monetary intervention in the world in arresting financial market declines; which are based upon fear of the unknown and panic.
Yes, Government responses will also make an immense difference and Michael Sabia, Director of the Munk School of Global Affairs & Public Policy at the University of Toronto today wrote that: “We need to set aside our traditional thinking about fiscal deficits. Canada’s ratio of debt to GDP is the best in the Group of Seven. We have the firepower. Use it.”
Flattening the curve is also the first step towards financial recovery. Control of the former eases pressure on the latter.
If we as individuals continue to do our part – we can have an immensely positive impact upon both. Overwhelmed as we are by the implications of this global pandemic our individual roles are critically consequential.
Stay safe.
