[Mick]

Consider, for example, Sweden, which is often held up as an example for not shutting their economy down in response to the virus.  Sweden has had a fatality rate of 58.3 per 100,000, which is substantially higher than its Nordic neighbors (Denmark 11.2/100,000, Finland 6.2/100,000, Norway 5.0/100,000).  Now, your point would be made if Sweden's GDP had been minimally impacted, but alas GDP in Sweden fell by 8.3% in the second quarter.  That was worse than Denmark (-7.4%), Norway (-5.1%) or Finland (-4.5%).  In other words, not only did Sweden wind up with a much worse impact of COVID-19 than its neighbors, its economy was hurt more than its neighbors.  This suggests that not only is there not a tradeoff between controlling the pandemic and economic growth, but actually there is a direct correlation between how well you control the pandemic and growth.

BC

Forgive the dual post, but according to Eurostat, seasonally adjusted GDP decreased by -12.1% in the Euro area and -11.7% in the EU during Q2 2020.  French GDP declined -13.8% compared to last quarter and -19.0% compared to the same quarter last year.  As noted, Sweden declined -8.6% compared to last quarter and if you compare it to the 2nd quarter of last year, Sweden's -8.3% decline is only fourth worst in the EU of 21 countries that had measureable data.  It was 8th worst of the 21 Euro countries a year ago.  By that measure, Sweden significantly improved their position relative to the other European countries.

Of the 21 European countries for which data is available, Sweden's -8.6% GDP decline from Q1 to Q2 was 8th smallest.  Finland "led" the way with a -3.2% decline, Lithuania was -5.1%.  Denmark and Latvia were -7.4% and -7.5%.  

Large, double digit declines were felt by Belgium (-12.2%), Germany (-10.1%), Spain (-18.5%), France (-13.8%), Italy (-12.4%), Cyprus (-11.6%), Hungary (-14.5%), Austria (-10.7%), Portugal (-13.9%), Romania (-12.3%) and the UK (-20.4%).  USA was -9.5%.

See page three of this release:
https://ec.europa.eu/eurostat/documents/...fed0230b57

[Mick]

Consider, for example, Sweden, which is often held up as an example for not shutting their economy down in response to the virus.  Sweden has had a fatality rate of 58.3 per 100,000, which is substantially higher than its Nordic neighbors (Denmark 11.2/100,000, Finland 6.2/100,000, Norway 5.0/100,000).  Now, your point would be made if Sweden's GDP had been minimally impacted, but alas GDP in Sweden fell by 8.3% in the second quarter.  That was worse than Denmark (-7.4%), Norway (-5.1%) or Finland (-4.5%).  In other words, not only did Sweden wind up with a much worse impact of COVID-19 than its neighbors, its economy was hurt more than its neighbors.  This suggests that not only is there not a tradeoff between controlling the pandemic and economic growth, but actually there is a direct correlation between how well you control the pandemic and growth.

BC

Forgive the dual post, but according to Eurostat, seasonally adjusted GDP decreased by -12.1% in the Euro area and -11.7% in the EU during Q2 2020.  French GDP declined -13.8% compared to last quarter and -19.0% compared to the same quarter last year.  As noted, Sweden declined -8.6% compared to last quarter and if you compare it to the 2nd quarter of last year, Sweden's -8.3% decline is only fourth worst in the EU of 21 countries that had measureable data.  It was 8th worst of the 21 Euro countries a year ago.  By that measure, Sweden significantly improved their position relative to the other European countries.

Of the 21 European countries for which data is available, Sweden's -8.6% GDP decline from Q1 to Q2 was 8th smallest.  Finland "led" the way with a -3.2% decline, Lithuania was -5.1%.  Denmark and Latvia were -7.4% and -7.5%.  

Large, double digit declines were felt by Belgium (-12.2%), Germany (-10.1%), Spain (-18.5%), France (-13.8%), Italy (-12.4%), Cyprus (-11.6%), Hungary (-14.5%), Austria (-10.7%), Portugal (-13.9%), Romania (-12.3%) and the UK (-20.4%).  USA was -9.5%.

See page three of this release:
https://ec.europa.eu/eurostat/documents/...fed0230b57