Published On: Tue, Nov 16th, 2021

Shutting Down Economies Amid COVID-19 Will Have ‘Unprecedented’ Negative Effects: Donald Boudreaux

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Shutting down huge chunks of the economy and increasing government spending amid the COVID-19 pandemic will have “significant” and maybe even “unprecedented” negative effects on the economy, according to economist Donald J. Boudreaux. Speaking to The Epoch Times at the inaugural conference of the Brownstone Institute in Hartford, Connecticut, on Nov. 13, Boudreaux explained that economists cannot clearly quantify just how much the ongoing lockdowns and government stimulus programs will impact the economy. However, the economist said he believes the efforts devoted by governments worldwide to mitigate the CCP (Chinese Communist Party) virus have outweighed the danger of the virus itself. “I think it’s impossible for anybody, a lot of economists claim they can quantify it, there are papers out there claiming to quantify it. I’ve always been very skeptical about the ability to do that, to put actual dollar figures on it but it’s going to be massive, you cannot shut down the world economy, huge chunks of …

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