Economy, horses and pandemic

“The point of shutting economies was to save lives.” — CNN London

Horses are trained with blinkers in their eyes to prevent them from seeing more or being distracted so that they can be right on track going as fast as they can, with eyes set on one (and only one) direction. Blinkers are meant also to prevent horses from being spooked as they are known to be panicky creatures that go wild upon sensing danger.

Are economists no different from horses or from how they were trained, with blinkers in their eyes?

Well, indications point to the sad conclusion that, in this time of the pandemic, most of them have become ignorant (deliberately) of realities as they seem to have an undivided focus on their hollowed charts and graphs (to worship), with pointing sticks in their hands and “blinkers” in their minds.

The reputable American Institute for Economic Research is a free-market think tank founded in 1933 by economist and investment advisor, Edward C. Harwood. But look at what the institute reported in its website’s editorial on 19 December 2020, “Lockdown Do Not Control the Coronavirus: The Evidence.” And just recently on 26 May 2021, it came out with an editorial among many similar editorials it had in the past, “Lockdowns Need to Be Intellectually Discredited Once and For All.” But need I mention the unintelligent, horse-like content of the said articles?

Happily, though, not all economists are myopic. Charlie Robertson, chief economist at investment bank Renaissance Capital said, “What I think they (the skeptics) are missing is this (lockdown policy) wasn’t some left-wing conspiracy to stop the economy from working. This was middle-aged people, like me, who didn’t want to see their parents die.” Who says then that lockdowns are more damaging than coronavirus? CNN multiawarded producer, Tara John, argued to confront the question in her article: “Experts (real experts) say it’s a false choice.”

Over a year since the outbreak of Covid-19 and despite the news of daily deaths and continuing Covid horror worldwide, it is unthinkable that economic managers of nations still insist on showing us their dwindling gross domestic product figures like they are messiahs itching to solve battered industries and save the world’s economy, even at the expense of solving the pandemic and saving human lives. Unless, of course, they admit they are horses.

Solve the problem and you solve yourself.