Lockdown is expen$ive! What does it buy? (1) Flatten curve at pandemic peak, (2) Delay peak hoping for vaccine (3) Delay peak for time to expand docs, beds, ventilators, tests, apps, etc. Only (1) seems cost-effective to me, but if so, deliberate exposure would also help now.
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I meant in the absence of other considerations to push us to expect too much or too little.
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how am I supposed to read this as anything but trolling? It takes an implausible level of dissociation to see an economy of paycheck to paycheck full time laborers who were apparently non-essential to think that what we've really needed this whole time was more scarcity / work.
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Because working, and then buying sometime to consume, incurs taxes, reducing people's willingness to do them, whereas producing and consuming leisure for yourself does not.
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oh so taxes are an external pressure reducing the amount of work + consumption. ok, that's not an argument about whether on net we're above or below the ideal amount of work vs leisure but it's a relevant consideration.
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Is the idea analogous to "Taxing smoking leads us (in theory) to think that there is too little smoking, because more smoking would give us more tax revenue to fund stuff that we want"?
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what? no. it's analogous to "taxing smoking leads us to think that there is too little smoking, because we presume that the amount people would smoke in the absence of any external pressure is the optimal amount."
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