Behavioral Economics and Lockdown Ramifications

How could countries worldwide have handled the economic policies during the pandemic more effectively? The implementation of different strategies could have prevented further financial hardship, research shows. Press play to learn:

How lockdowns affected the global economy
If vaccine passports are in our near future
If restrictions correlate with positive results in the age of Covid-19

Professor of economics at The University of New South Wales, Gigi Foster, discusses the detriments of lockdowns and the economic mishandling of the pandemic.

Targeted protection could have been implemented early in the pandemic to avoid later restrictions that were more detrimental to the economy. Lockdowns may not have been the best solution for protecting human welfare while keeping economic principles in mind.

While lockdowns feel safe and effective, they may do more harm than good. Public debate on rationality during this time may move approach towards a global agreement.

For more information, you can find Gigi Foster at gigi.foster@unsw.edu.au.