In his recent column (https://www.businesslive.co.za/bd/opinion/columnists/2020-05-26-steven-friedman-the-economy-is-threatened-by-covid-19-not-measures-to-fight-it/) Steven Friedman argued that the economy is threatened by Covid-19, not measures to fight it.

Friedman’s essential argument has become a common one of those who regard the coronavirus as a threat to the fabric of productive life and who favour hard lockdowns. According to this argument, the virus is so severe that widespread shutdowns of ordinary life and commerce will benefit the economy in the fullness of time...

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