Affiliation: 
University of Oxford
Credentials: 
Associate Professor

Voting history

Lockdowns and UK Economic Performance

Question 3: Using not only the policy tools that have been part of the UK policy mix thus far but also policy tools implemented in other countries, to what extent does the government face a tradeoff between saving lives and preserving livelihoods? 

Answer:
Large tradeoff
Confidence level:
Very confident
Comment:
The current measures have been implemented to protect mainly the old and the most vulnerable. Nevertheless, they impose a huge burden on the less-wealthy/lower-income households in the economy. Most of these households work in sectors where it isn't easy to work from home. Hence, they seem to have a higher probability of losing their job. These households can have some difficulties in finding a job after being unemployed for many months. Therefore, less-wealthy/lower-income households before the pandemic are becoming poorer. This imposes a huge trade-off between lives and livelihoods.

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