Question

The US government has used a wide range of measures to increase social distance in the US, such as issuing guidelines urging citizens to avoid gatherings of 10 or more people, childcare and school facilities have temporarily ceased operations, playgrounds and other public spaces have been sealed off, cultural events have been cancelled, tourist attractions and national sports leagues have suspended or cancelled their seasons.

Required:

What are the categories of costs and benefits of using social distancing to flatten the Curve for COVID-19 from society’s perspective?

Pls be detailed!

Answer 1

The aim of social distancing is to “flatten the curve”. This means slowing the rate at which the virus is spread, so we get fewer critical cases in the short term.

Slowing the spread allows our medical services to cope with the caseload at any given time. It maximises the prospect of patients getting the care they need when they need it, therefore reducing deaths.

Cost and benefits of using social distancing to Flatten the curve for Covid - 19 from society's perspective :

COSTS :

1 .These social distancing measures save lives, they also impose significant costs on society. The resulting contraction of economic activity puts vulnerable low-income workers in jeopardy, and recent forecasts point to historic declines in economic output in the coming months, despite large fiscal and monetary stimulus.

2.As the direct economic costs of social distancing become increasingly salient to households and businesses, decision-makers and the general public can benefit from systematic policy evaluations to help determine whether those costs are justified by the value of the lives saved.

3.Althogh much of the discussion within the popular media has focused on lower-income households, our analysis suggests that higher-earning households could experience a larger proportion of income decline from social-distancing policies.

4. Under optimistic assumptions of minimal closures, states with large populations are projected to suffer greater economic losses (possibly a reflection of higher per-capita incomes stemming from labor-supply reductions); under pessimistic assumptions of population-wide quarantines, losses are more concentrated in the Midwest (possibly because these states produce relatively high amounts of final-demand goods).

5.Social distancing will save lives. Its economic costs are staggering. While frustrating but manageable for many people and the economic fallout of social distancing is brutal for the poorest, most vulnerable and marginalized members of our society. Even looking at the issue purely in terms of lives lost, injuries sustained, and lifelong psychological damage, there are tradeoffs that we feel have not been sufficiently acknowledged.

BENEFITS:

Studies on outbreaks of infectious diseases, such as the flu, suggest that social distancing is an effective way to reduce the number of people infected provided that the measures are thorough and that they are continued for a suitable length of time. Studies on the 1918 influenza epidemic, comparing different states in the USA, demonstrated the benefits of applying social distancing.

While some people experience only a mild illness when infected with the new coronavirus, others don't. Preventive measures like social distancing help protect vulnerable people from developing more serious illness

1.The economic benefits of lives saved outweigh the value of the projected losses of GDP by about $5.2 trillion using a 3 % discount rate and a 30 year planning horizon.

2.social distancing measures can substantially reduce contacts among individuals, we find net benefits of about $5.2 trillion in our benchmark case.

3.Key unknown factor is the speed of economic recovery with and without social distancing measures in place. A series of robustness checks also highlight the key role of the value of mortality risk reductions and discounting in the analysis and point to a need for effective economic stimulus when the outbreak has passed.

4.Flattening the curve" reduces the number of cases occurring at any one time. This helps ensure that hospitals have the supplies and resources needed to provide those with severe illness the effective care they need.

5.Social distancing has other health benefits beyond the suppression of viral transmission, such as a reduction in air pollution from decreased travel and manufacturing. Air pollution is a well-characterized trigger for asthma, and improvements in air quality can decrease the frequency and severity of asthma exacerbations.

Some points include :

Do avoid close contact. COVID-19 spreads primarily through person-to-person contact, via respiratory droplets formed when a sick person coughs or sneezes.

Don't greet people with a handshake or hug. In fact, keep about six feet of space between yourself and others as often as possible.

Do avoid large crowds. Stay away from gatherings of crowds of more than 10 people, especially if the space has limited air circulation.

Don't dismiss it since you think it sounds unreasonable. Social distancing isn't the same as being isolated or quarantined in your home 24/7. It just means making a purposeful effort to modify your social behaviors and reduce your contact with other people as much as possible.