Take the case of New Zealand. Here’s a prime minister and a country that has done, according to the chattering classes, everything right. A serious, long-term lockdown, early on, entirely stamped out the disease before it took root. Prime Minister Jacinda Ardern was feted across the globe for her farsighted seriousness. New Zealand became the model for containment.
But in July, despite over 100 days without any new cases, several new ones emerged. Conventional wisdom would suggest a moderate response. But this puts the lie to that wisdom: security is still one significant concern that will always outpace economic productivity. Medium to long-range economic damage will never outpace short-term but certain security concerns. As with so many things, we’ve been here before.