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The Economic Folly of Lockdowns

January 20, 2021 | Articles

“The cost of lockdowns in Canada is at least 10 times higher than the benefit in terms of population health and well-being … at least if you account for numerous variables such as economic recession, social isolation and impacts on life expectancy, education and the full gamut of health-care priorities. If you look at the issue worldwide, lockdowns will cause at least five times and, more likely, as much as 50 times more harm than benefit.”1

When this virus eventually passes and when all the hysteria and political bias is set aside, we will look back on this experiment of lockdowns as one of the greatest economic and social blunders in history. At this point, we have enough data to demonstrate that lockdowns do not stop the spread of the virus, but lockdowns do destroy the economy and further indebt governments. As you might recall, lockdown restrictions were originally imposed for two weeks in order to “flatten the curve”. We were told that without this flattening of the curve our hospitals would be overwhelmed and our medical resources exhausted! Almost ten months have passed and here we are back in another crushing lockdown. Are we still trying to save our sacrosanct socialized medical system? What happens when the lockdowns that are imposed to save our medical system actually do greater damage to the underlying economy and its participants? What happens when the cure is far more expensive than the sickness? Do our politicians, medical professionals and citizens understand the devastating economics of lockdowns? Do they realize that one of the greatest causalities of the lockdowns will be the medical system they are trying to rescue?

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