What glorious economics

What does this say? I suggest three things.

First, much of the country is still locked down.

Second, people do not want to take risks, and are not.

Third, as a result, we have not seen the rises in cases that were expected (the good news) but nor will we see economic recovery.

The country has more sense than the government in other words, and the model of rational people that too many economists use is not rational because it did not predict what rational people might do in the face of misinformation and mismanagement.

Not taking risks and remaining – mostly – locked down is rational.

Folks are not taking risks and remaining – largely – locked down.

Folks are not rational says the P³

All of which is before we even get to the idea of economic rationality. Which is not that folks are calculatedly rational, but that they are rational in their tastes and preferences. You know, an entirely different idea?

2 thoughts on “What glorious economics”

  1. Bloke in North Dorset

    Excellent. Acknowledgement that people have agency and will take steps to protect themselves if things get bad, so we don’t need anymore lockdowns, no matter what happens to cases and hospitalisations.

    On a similar theme, l see Sweden’s authorities have said that they expect cases to rise when kids go back to school and people return to work after the holidays, but they won’t be changing their approach. It should be noted that their age adjusted death rate is now much lower than most of Europe

  2. Entire world is fiddling figs using bullshit tests to massively enhance false figs of infections of not-ill people (not ill from con-vid anyway) and still relabeling deaths of old/ill and all other cause deaths as con-vid. Stop testing and bogus plague evaporates.

    But the reverse is going to happen because Blojob Johnson wants to push vax pass tyranny this winter. so vax pass will be voted in by shite Bluelabour clapping seals (it wont last 2 days as a voluntary scam–business needs the money of vax’d/unvax’d alike. There will be attempted LDs and Aussie style Ploddie/Squaddie scum on the streets in martial law lite.

    Will Blojob try for full on Macron-shite? Well he wont want Macrons problems. I am hoping that enough millions of us–inc this time business owners who want their SMEs to survive will defy Johnson’s LD bullshit and vax pass. This winter will be make or break for freedom.

    Signs are everywhere. This delta bullshit is going into over drive. Realtive of mine had a scan in June with little trouble. Now they sent him a letter for another scan.

    This time=1. social isolation for 3 days to protect their staff from con-vid before 2- going in for test 3-must wear a mask and 4- they pointed out there will be a security guard on the door. Clear implication of violence if you cause them any trouble. Relative phoned up and told them to stuff their scan. And why.

    Also see this . Stuff still being cancelled. Cos Johnson’s LD tyranny is on for winter.

    https://youtu.be/Q1YeM4BNcNk

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