Does social distancing matter?

According to a working paper by Greenstone and Nigam (2020), the answer is a resounding yes!

…we project that moderate social distancing would save 1.7 million lives between March 1 and October 1, with 630,000 due to avoided overwhelming of hospital intensive care units. Using the projected age-specific reductions in death and age-varying estimates of the value of a statistical life (VSL), we find that the mortality benefits of social distancing are over $8 trillion or $60,000 per US household. About 90% of the monetized benefits are projected to accrue to people age 50 or older. Overall, the analysis suggests that social distancing initiatives and policies in response to the COVID-19 epidemic have substantial economic benefits.

The authors claim the benefits are and larger than the entire annual federal budget. The benefits are monetarily equivalent to giving every household $60,000, which is approximately the median US household income.

from Healthcare Economist https://ift.tt/35seKz3