{"id":2047,"date":"2020-04-29T08:57:42","date_gmt":"2020-04-29T07:57:42","guid":{"rendered":"http:\/\/www.obsfin.ch\/discussion-board-n2-29-04-20\/"},"modified":"2021-02-18T11:40:20","modified_gmt":"2021-02-18T10:40:20","slug":"discussion-board-n2-29-04-20","status":"publish","type":"page","link":"https:\/\/www.obsfin.ch\/de\/discussion-board-n2-29-04-20\/","title":{"rendered":"What principles should guide us in striking the balance between \u00ab lives and livelihoods \u00bb ?"},"content":{"rendered":"<h2><span style=\"color: #000000;\"><strong>OF Discussion Board n\u00b02 &#8211; 29 April 2020<\/strong><\/span><\/h2>\n<h3><span style=\"font-size: 14pt;\"><strong><span style=\"color: #000000;\">Question asked : <span style=\"color: #ff0000;\">&#8222;<\/span><\/span><span style=\"color: #ff0000;\">What principles should guide us in striking the balance between \u00ab lives and livelihoods \u00bb ? Or put differently, between health and GDP?&#8220;<\/span><\/strong><\/span><\/h3>\n<ul>\n<li><span style=\"color: #0000ff;\"><a style=\"color: #0000ff;\" href=\"#Editorial\">Editorial<\/a><\/span><\/li>\n<li><span style=\"color: #0000ff;\"><a style=\"color: #0000ff;\" href=\"#All-contribution\">All Contributions<\/a><\/span><span id=\"Link-contributions\"><\/span><span id=\"Link-contributions\"><\/span><\/li>\n<\/ul>\n<p><span id=\"Link-contributions\" style=\"color: #000000;\">Thanks for those of our contributors who ventured to react to the second question posed in this Discussion Board<\/span><\/p>\n<p><span style=\"color: #000000;\"><span style=\"font-size: 14pt;\"><strong>Editorial \u2013 <\/strong><\/span><strong><span style=\"font-size: 14pt;\">A simplistic and misleading trade-off but policy dilemmas are real<\/span><br \/>\n<\/strong><\/span><span id=\"Editorial\"><span style=\"color: #000000;\">by Virgile Perret &amp; Paul H. Dembinski<\/span><br \/>\n<\/span><\/p>\n<table id=\"Editorial\" style=\"width: 99.8112%; border-collapse: collapse; border-color: #ffffff;\">\n<tbody>\n<tr>\n<td style=\"width: 74.0303%; text-align: justify; border-color: #ffffff; border-style: solid;\"><span style=\"color: #000000;\">Our question suggests that we are confronted to a cruel alternative to either severely damage our economy through extended lockdowns, or to sacrifice the health of thousands of people, among whom a great majority of elderly.<br \/>\nOur contributors reject the alternative lives versus livelihoods, but acknowledge a series of underlying policy dilemmas that need to be solved according to specific context. Even if there is no \u201cone size fits all\u201d approach, however \u201cmaterial resources can be restored, lives not\u201d.<br \/>\nMany contributors challenge the very existence of the trade-off, they stress that cost-benefit analysis cannot cope with \u00ab the uncertainty of future outcomes\u201d and that \u201cwe are far from knowing the chain between spending and either health or livelihood\u201d. In the absence of reliable information, any attempt to reach a choice by calculation should be discouraged. Others recall that the discussion concerning the balance between \u201clives and livelihoods\u201d is essentially a \u201cproblem of political discernment\u201d and remains a privilege of democracies that are equipped to compromise.<br \/>\n<\/span><span style=\"color: #000000;\">Action is needed on both these fronts, but there are different opinions as the principles which should guide us in striking the balance: some argue that \u00ab\u00a0it is essentially a question of time management\u201d, the challenge being \u201cto combine long and short-term measures\u201d. Caution, however, requires to keep a long-term horizon, since \u00ab\u00a0raising GDP today through rapid deconfinement may well lead to a second wave of epidemics and another recession.\u00a0\u00bb.<br \/>\n<\/span><span style=\"color: #000000;\"><span style=\"color: #000000;\">The relevant question, therefore, may be more about \u00ab\u00a0<em>which<\/em> economy we want to reopen rather than <em>when<\/em> we want to reopen it\u00a0\u00bb. Many stress that principles of care, fairness, transparency and the common good should prevail over GDP growth that is \u201can inadequate measure of societal progress.\u201d This may imply redefining \u201cthe concept of economic value\u201d and \u201cmoving away from the unsustainable logics of financial and economic efficiency\u201d to principles of responsible consumption and sustainable production. For those contributors, it seems that \u201cthe health versus economy trade-off makes no sense\u201d.<\/span><\/span><\/td>\n<td style=\"border-color: #ffffff; border-style: solid; text-align: center; vertical-align: middle;\"><a href=\"http:\/\/www.obsfin.ch\/from-virus-to-vitamin\/contributors\/#Perret\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-1912 size-thumbnail\" src=\"http:\/\/www.obsfin.ch\/wp-content\/uploads\/2020\/04\/Perret-150x150.png\" alt=\"\" width=\"150\" height=\"150\" srcset=\"https:\/\/www.obsfin.ch\/wp-content\/uploads\/2020\/04\/Perret-150x150.png 150w, https:\/\/www.obsfin.ch\/wp-content\/uploads\/2020\/04\/Perret-300x300.png 300w, https:\/\/www.obsfin.ch\/wp-content\/uploads\/2020\/04\/Perret-1024x1024.png 1024w, https:\/\/www.obsfin.ch\/wp-content\/uploads\/2020\/04\/Perret-768x768.png 768w, https:\/\/www.obsfin.ch\/wp-content\/uploads\/2020\/04\/Perret-1536x1536.png 1536w, https:\/\/www.obsfin.ch\/wp-content\/uploads\/2020\/04\/Perret-1x1.png 1w, https:\/\/www.obsfin.ch\/wp-content\/uploads\/2020\/04\/Perret.png 1592w\" sizes=\"auto, (max-width: 150px) 100vw, 150px\" \/><\/a><a href=\"http:\/\/www.obsfin.ch\/from-virus-to-vitamin\/contributors\/#Dembinski\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-1903 size-thumbnail\" src=\"http:\/\/www.obsfin.ch\/wp-content\/uploads\/2020\/04\/PHD-150x150.png\" alt=\"\" width=\"150\" height=\"150\" srcset=\"https:\/\/www.obsfin.ch\/wp-content\/uploads\/2020\/04\/PHD-150x150.png 150w, https:\/\/www.obsfin.ch\/wp-content\/uploads\/2020\/04\/PHD-300x300.png 300w, https:\/\/www.obsfin.ch\/wp-content\/uploads\/2020\/04\/PHD-1x1.png 1w, https:\/\/www.obsfin.ch\/wp-content\/uploads\/2020\/04\/PHD.png 552w\" sizes=\"auto, (max-width: 150px) 100vw, 150px\" \/><\/a><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p><a href=\"http:\/\/www.obsfin.ch\/DiscussionBoard2\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-2483 alignleft\" src=\"http:\/\/www.obsfin.ch\/wp-content\/uploads\/2020\/08\/Image-PDF.jpg\" alt=\"\" width=\"124\" height=\"90\" srcset=\"https:\/\/www.obsfin.ch\/wp-content\/uploads\/2020\/08\/Image-PDF.jpg 124w, https:\/\/www.obsfin.ch\/wp-content\/uploads\/2020\/08\/Image-PDF-1x1.jpg 1w\" sizes=\"auto, (max-width: 124px) 100vw, 124px\" \/><\/a><\/p>\n<p>&nbsp;<\/p>\n<table id=\"All-contribution\" style=\"height: 4688px; width: 100%; border-collapse: collapse; border-color: #ffffff;\">\n<tbody>\n<tr id=\"Cornford\">\n<td style=\"width: 73.9849%; text-align: justify; border-color: #ffffff; border-style: solid;\"><span style=\"color: #000000;\"><strong>&#8222;\u2026 the uncertainty of future outcomes &#8230;&#8220;<\/strong><\/span><\/p>\n<p><span style=\"color: #000000;\">This question is difficult to answer in abstraction from context of the balancing. My initial reaction was to recall the pioneering work in the first part of the 20<sup>th<\/sup>\u00a0century of the actuarial scholars, Louis Dublin and Alfred Lotka, on the estimation of the money value of an individual \u2013 used, for example, by the insurance industry and in the estimation of the costs of wars. But then I thought that you no doubt wanted something more topical. Here I felt that<\/span> <span style=\"color: #ff0000;\"><strong>the question would be better phrased if it included the relation of risk to the appropriate balancing of losses\/gains since such balancing must take account of the uncertainty of future outcomes.<\/strong> <\/span><span style=\"color: #000000;\">But the assignment of risk \u2013 quite aside from the centuries-old debate on the relevant conceptual mathematics \u2013 cannot be done in the absence of at least a general specification of the context\u00a0 to which the balancing refers.<\/span><\/p>\n<p style=\"text-align: right;\"><span style=\"color: #000000;\"><strong>Andrew Cornford<\/strong><\/span><\/p>\n<\/td>\n<td style=\"width: 26.0152%; vertical-align: middle; border-color: #ffffff; border-style: solid;\"><a href=\"http:\/\/www.obsfin.ch\/from-virus-to-vitamin\/contributors\/#Cornford\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-1916 size-thumbnail\" src=\"http:\/\/www.obsfin.ch\/wp-content\/uploads\/2020\/04\/Corrnford-150x150.png\" alt=\"\" width=\"150\" height=\"150\" srcset=\"https:\/\/www.obsfin.ch\/wp-content\/uploads\/2020\/04\/Corrnford-150x150.png 150w, https:\/\/www.obsfin.ch\/wp-content\/uploads\/2020\/04\/Corrnford-300x300.png 300w, https:\/\/www.obsfin.ch\/wp-content\/uploads\/2020\/04\/Corrnford-1x1.png 1w, https:\/\/www.obsfin.ch\/wp-content\/uploads\/2020\/04\/Corrnford.png 412w\" sizes=\"auto, (max-width: 150px) 100vw, 150px\" \/><\/a><\/td>\n<\/tr>\n<tr id=\"Pastor\">\n<td style=\"width: 73.9849%; text-align: justify; border-color: #ffffff; border-style: solid;\"><span style=\"color: #000000;\"><strong>&#8222;\u2026 material resources can be restored, lives cannot \u2026&#8220;<\/strong><\/span><\/p>\n<p><span style=\"color: #000000;\">Where gathering reliable information is a prerequisite, I would discourage any attempt to reach a choice by calculation. <span style=\"color: #ff0000;\"><strong>We are far from knowing the chain between spending and either health or livelihood. Choice must be the result of deliberation.<br \/>\n<\/strong><\/span><strong><span style=\"color: #ff0000;\">Material resources can be restored, lives cannot; so saving lives is more urgent than relieving material stress. <\/span><\/strong>But prudence will remind us that we cannot prevent all illnesses or eradicate all poverty. This should guide our choice in any specific situation, which is all we shall have to face. General rules are abstractions.<\/span><\/p>\n<p style=\"text-align: right;\"><span style=\"color: #000000;\"><strong>Alfredo Pastor<\/strong><\/span><\/p>\n<p><strong>\u00a0<\/strong><\/td>\n<td style=\"vertical-align: middle; width: 26.0152%; border-color: #ffffff; border-style: solid;\">&nbsp;<\/p>\n<p><strong>\u00a0<\/strong><\/p>\n<p>&nbsp;<\/td>\n<\/tr>\n<tr id=\"Bruno\">\n<td style=\"width: 73.9849%; text-align: justify; border-color: #ffffff; border-style: solid;\"><span style=\"color: #000000;\"><strong>&#8222;<\/strong><strong>\u2026 public health should no doubts be the priority \u2026\u201d<\/strong><\/span><\/p>\n<p><span style=\"color: #000000;\">Pope Francis rightly warned of the scary possibility of citizens of recurring to loan sharks to face the impact of the crisis, calling it a \u201csocial pandemics\u201d. David Beasley, director of the United Nations World Food Programme, pointed out the economic impacts of the COVID-19 pandemics could push 130 million people to the brink of starvation by the end of 2020 in conflict-scarred nations\u2026<span style=\"color: #ff0000;\"> <strong>In the fight against the COVID-19, public health should no doubts be the priority of the actions of Governments and International Institutions worldwide, as health and safety are the <em>conditio sine qua non<\/em> of any human productive activity.<\/strong><\/span> However, we should not forget the nature of Politics itself requires considerations on the long run.<\/span><\/p>\n<p style=\"text-align: right;\"><span style=\"color: #000000;\"><strong>Valerio Alfonso Bruno<\/strong><\/span><strong><br \/>\n<\/strong><\/p>\n<p>&nbsp;<\/td>\n<td style=\"vertical-align: middle; width: 26.0152%; border-color: #ffffff; border-style: solid;\"><a href=\"http:\/\/www.obsfin.ch\/from-virus-to-vitamin\/contributors\/#Bruno\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-1965 size-thumbnail\" src=\"http:\/\/www.obsfin.ch\/wp-content\/uploads\/2020\/04\/Valerio-150x150.png\" alt=\"\" width=\"150\" height=\"150\" srcset=\"https:\/\/www.obsfin.ch\/wp-content\/uploads\/2020\/04\/Valerio-150x150.png 150w, https:\/\/www.obsfin.ch\/wp-content\/uploads\/2020\/04\/Valerio-300x300.png 300w, https:\/\/www.obsfin.ch\/wp-content\/uploads\/2020\/04\/Valerio-1024x1024.png 1024w, https:\/\/www.obsfin.ch\/wp-content\/uploads\/2020\/04\/Valerio-768x768.png 768w, https:\/\/www.obsfin.ch\/wp-content\/uploads\/2020\/04\/Valerio-1536x1536.png 1536w, https:\/\/www.obsfin.ch\/wp-content\/uploads\/2020\/04\/Valerio-1x1.png 1w, https:\/\/www.obsfin.ch\/wp-content\/uploads\/2020\/04\/Valerio.png 1588w\" sizes=\"auto, (max-width: 150px) 100vw, 150px\" \/><\/a><\/td>\n<\/tr>\n<tr id=\"Perrot\">\n<td style=\"width: 73.9849%; text-align: justify; border-color: #ffffff; border-style: solid;\"><span style=\"color: #000000;\"><strong>&#8222;\u2026 this is a problem of political discernment \u2026&#8220;<\/strong><\/span><\/p>\n<p><span style=\"color: #000000;\"><span style=\"color: #ff0000;\"><strong>This is a problem of political discernment; it cannot be resolved without compromise. <\/strong><\/span>Three possible principles:<\/span><br \/>\n<span style=\"color: #000000;\">1 \u00b0) Distinguish between the objective and the finality, which leads to pass from the logic of performance (measured by the GDP) to the logic of efficiency (of what? for whom? for when? who will support the cost ?)<\/span><br \/>\n<span style=\"color: #000000;\">2 \u00b0) Abandon the Jacobin myth of the &#8222;one best way&#8220;, because there are several legitimate answers<\/span><br \/>\n<span style=\"color: #000000;\">3 \u00b0) To Reason, not from statistics, the mass, the majority, &#8230; but according to the weakest person.<\/span><\/p>\n<p style=\"text-align: right;\"><span style=\"color: #000000;\"><strong>Etienne Perrot<\/strong><\/span><strong><br \/>\n<\/strong><\/p>\n<p><strong>\u00a0<\/strong><\/td>\n<td style=\"vertical-align: middle; width: 26.0152%; border-color: #ffffff; border-style: solid;\"><a href=\"http:\/\/www.obsfin.ch\/from-virus-to-vitamin\/contributors\/#Perrot\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-1980 size-thumbnail\" src=\"http:\/\/www.obsfin.ch\/wp-content\/uploads\/2020\/04\/Perrot-150x150.png\" alt=\"\" width=\"150\" height=\"150\" srcset=\"https:\/\/www.obsfin.ch\/wp-content\/uploads\/2020\/04\/Perrot-150x150.png 150w, https:\/\/www.obsfin.ch\/wp-content\/uploads\/2020\/04\/Perrot-300x300.png 300w, https:\/\/www.obsfin.ch\/wp-content\/uploads\/2020\/04\/Perrot-1024x1024.png 1024w, https:\/\/www.obsfin.ch\/wp-content\/uploads\/2020\/04\/Perrot-768x768.png 768w, https:\/\/www.obsfin.ch\/wp-content\/uploads\/2020\/04\/Perrot-1536x1536.png 1536w, https:\/\/www.obsfin.ch\/wp-content\/uploads\/2020\/04\/Perrot-2048x2048.png 2048w, https:\/\/www.obsfin.ch\/wp-content\/uploads\/2020\/04\/Perrot-1x1.png 1w\" sizes=\"auto, (max-width: 150px) 100vw, 150px\" \/><\/a><\/td>\n<\/tr>\n<tr id=\"Temirov\">\n<td style=\"width: 73.9849%; text-align: justify; border-color: #ffffff; border-style: solid;\"><span style=\"color: #000000;\"><strong>&#8222;\u2026 only true democracies tend to seek a balance \u2026&#8220;<\/strong><\/span><\/p>\n<p><span style=\"color: #000000;\">There are no universal principles to strike a balance between \u201clives and livelihood\u201d. The approach to solving these dilemmas depends on many factors. One of the factors can be considered as a key one. This factor is trust in power (true democracies), not faith in power (populist governments) or faith in and fear of power (undemocratic regimes). <span style=\"color: #ff0000;\"><strong>Only true democracies tend to seek a balance between \u00ablives and livelihoods\u00bb in the interests of the people.<\/strong><\/span> In two other cases, governments will tend not to seek balance, but to make a choice between health and GDP, which is motivated by the preservation of power. Democracies have a strategic advantage, but tactical mistakes can fail them.<\/span><\/p>\n<p style=\"text-align: right;\"><span style=\"color: #000000;\"><strong>Yuriy Temirov<\/strong><\/span><strong><br \/>\n<\/strong><\/p>\n<p>&nbsp;<\/td>\n<td style=\"vertical-align: middle; width: 26.0152%; border-color: #ffffff; border-style: solid;\"><a href=\"http:\/\/www.obsfin.ch\/from-virus-to-vitamin\/contributors\/#Temirov\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-1968 size-thumbnail\" src=\"http:\/\/www.obsfin.ch\/wp-content\/uploads\/2020\/04\/Temirov-150x150.png\" alt=\"\" width=\"150\" height=\"150\" srcset=\"https:\/\/www.obsfin.ch\/wp-content\/uploads\/2020\/04\/Temirov-150x150.png 150w, https:\/\/www.obsfin.ch\/wp-content\/uploads\/2020\/04\/Temirov-300x300.png 300w, https:\/\/www.obsfin.ch\/wp-content\/uploads\/2020\/04\/Temirov-1024x1024.png 1024w, https:\/\/www.obsfin.ch\/wp-content\/uploads\/2020\/04\/Temirov-768x768.png 768w, https:\/\/www.obsfin.ch\/wp-content\/uploads\/2020\/04\/Temirov-1536x1536.png 1536w, https:\/\/www.obsfin.ch\/wp-content\/uploads\/2020\/04\/Temirov-1x1.png 1w, https:\/\/www.obsfin.ch\/wp-content\/uploads\/2020\/04\/Temirov.png 1844w\" sizes=\"auto, (max-width: 150px) 100vw, 150px\" \/><\/a><\/td>\n<\/tr>\n<tr id=\"Sugranyes\">\n<td style=\"width: 73.9849%; text-align: justify; border-color: #ffffff; border-style: solid;\"><span style=\"color: #000000;\"><strong>&#8222;\u2026 a question of time management \u2026&#8220;<\/strong><\/span><\/p>\n<p><span style=\"color: #000000;\"><span style=\"color: #ff0000;\"><strong>Health (\u201ccure\u201d) and the economy (\u201ccrisis\u201d) are not alternatives. Both are equally urgent; addressing them is essentially a question of time management.<\/strong> <\/span>Nobody wants people to die without cure! It is happening in places (e.g. elderly homes in Spain) due to social habits, bad luck, denial or unpreparedness, but above all due to bad time management. Addressing the economic damage is equally important and will continue to be on the agenda for many months, even once hospitals are no more under threat of collapsing.<\/span><br \/>\n<span style=\"color: #000000;\">In the medium term, total priority for employment, i.e. efficient credit, tax exemption for SMEs etc\u2026 and strong help for people to prepare for change in job scenarios already happening before COVID-19, and now accelerating.<\/span><\/p>\n<p style=\"text-align: right;\"><span style=\"color: #000000;\"><strong>Domingo Sugranyes<\/strong><strong><br \/>\n<\/strong><\/span><\/p>\n<p>&nbsp;<\/td>\n<td style=\"vertical-align: middle; width: 26.0152%; border-color: #ffffff; border-style: solid;\"><a href=\"http:\/\/www.obsfin.ch\/from-virus-to-vitamin\/contributors\/#Sugranyes\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-1605 size-thumbnail\" src=\"http:\/\/www.obsfin.ch\/wp-content\/uploads\/2020\/04\/Sugranyes-150x150.png\" alt=\"\" width=\"150\" height=\"150\" srcset=\"https:\/\/www.obsfin.ch\/wp-content\/uploads\/2020\/04\/Sugranyes-150x150.png 150w, https:\/\/www.obsfin.ch\/wp-content\/uploads\/2020\/04\/Sugranyes-300x300.png 300w, https:\/\/www.obsfin.ch\/wp-content\/uploads\/2020\/04\/Sugranyes-1024x1024.png 1024w, https:\/\/www.obsfin.ch\/wp-content\/uploads\/2020\/04\/Sugranyes-768x768.png 768w, https:\/\/www.obsfin.ch\/wp-content\/uploads\/2020\/04\/Sugranyes-1x1.png 1w, https:\/\/www.obsfin.ch\/wp-content\/uploads\/2020\/04\/Sugranyes.png 1296w\" sizes=\"auto, (max-width: 150px) 100vw, 150px\" \/><\/a><\/td>\n<\/tr>\n<tr id=\"Fernandez\">\n<td style=\"width: 73.9849%; text-align: justify; border-color: #ffffff; border-style: solid;\"><span style=\"color: #000000;\"><strong>&#8222;\u2026 the creation of wealth will come later \u2026&#8220;<\/strong><\/span><\/p>\n<p><span style=\"color: #000000;\">Primum vivere deinde philosophari. Above all, to live. The creation of wealth will come later. The economic situation is going to be critical, but it need not be desperate. Perhaps there will be an upturn in V form. The fundamentals of the economy are better than in 2007. And the heart of the system is stronger and healthier. <strong><span style=\"color: #ff0000;\">If we show solidarity and act together, we will get out of the economic rut. But we will all have to get out: without losing anyone along the way.<\/span><br \/>\n<\/strong>That would be a failure. It would be unethical, economically inefficient and humanly unsustainable. Because with a heavy burden of impoverished people the globe will never take off in a globalised economy.<\/span><\/p>\n<p style=\"text-align: right;\"><span style=\"color: #000000;\"><strong>Jos\u00e9 Luis Fern\u00e1ndez Fern\u00e1ndez<\/strong><\/span><strong><br \/>\n<\/strong><\/p>\n<p>&nbsp;<\/td>\n<td style=\"vertical-align: middle; width: 26.0152%; border-color: #ffffff; border-style: solid;\"><a href=\"http:\/\/www.obsfin.ch\/from-virus-to-vitamin\/contributors\/#Fernandez\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-1971 size-thumbnail\" src=\"http:\/\/www.obsfin.ch\/wp-content\/uploads\/2020\/04\/Fernandez-150x150.png\" alt=\"\" width=\"150\" height=\"150\" srcset=\"https:\/\/www.obsfin.ch\/wp-content\/uploads\/2020\/04\/Fernandez-150x150.png 150w, https:\/\/www.obsfin.ch\/wp-content\/uploads\/2020\/04\/Fernandez-300x300.png 300w, https:\/\/www.obsfin.ch\/wp-content\/uploads\/2020\/04\/Fernandez-1024x1024.png 1024w, https:\/\/www.obsfin.ch\/wp-content\/uploads\/2020\/04\/Fernandez-768x768.png 768w, https:\/\/www.obsfin.ch\/wp-content\/uploads\/2020\/04\/Fernandez-1536x1536.png 1536w, https:\/\/www.obsfin.ch\/wp-content\/uploads\/2020\/04\/Fernandez-2048x2048.png 2048w, https:\/\/www.obsfin.ch\/wp-content\/uploads\/2020\/04\/Fernandez-1x1.png 1w\" sizes=\"auto, (max-width: 150px) 100vw, 150px\" \/><\/a><\/td>\n<\/tr>\n<tr id=\"Tsironis\">\n<td style=\"width: 73.9849%; text-align: justify; border-color: #ffffff; border-style: solid;\"><span style=\"color: #000000;\"><strong>&#8222;\u2026 the challenge is to combine long and short-term measures \u2026 &#8222;<\/strong><\/span><\/p>\n<p><span style=\"color: #000000;\">Searching for principles that might regulate the current socioeconomic conundrum should weaken the either\/or dilemma. The question how we are going to get out of the recession spiral complements the question how we are going to share the cost of the restart within and between the states. <span style=\"color: #ff0000;\"><strong>The challenge is to combine <\/strong><strong>long and short-term measures (financial, healthcare, welfare policies, recovery funds) while ensuring the access to the public goods and refiguring the local-global relationship.<\/strong> <\/span>Possible principles of our action? The common good as balancing rule between development and sustainability, socio-political autonomy and interdependence. The Integral collaboration between scientific bodies, socio\/political institutions and economic agents. The combination of innovative economic instruments with the enhancement of accountability and deliberative democratic strategies.<\/span><\/p>\n<p style=\"text-align: right;\"><span style=\"color: #000000;\"><strong>Christos Tsironis<\/strong><\/span><strong><br \/>\n<\/strong><\/p>\n<p>&nbsp;<\/td>\n<td style=\"vertical-align: middle; width: 26.0152%; border-color: #ffffff; border-style: solid;\"><a href=\"http:\/\/www.obsfin.ch\/from-virus-to-vitamin\/contributors\/#Tsironis\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-1785 size-thumbnail\" src=\"http:\/\/www.obsfin.ch\/wp-content\/uploads\/2020\/04\/Tsironis-150x150.png\" alt=\"\" width=\"150\" height=\"150\" srcset=\"https:\/\/www.obsfin.ch\/wp-content\/uploads\/2020\/04\/Tsironis-150x150.png 150w, https:\/\/www.obsfin.ch\/wp-content\/uploads\/2020\/04\/Tsironis-300x300.png 300w, https:\/\/www.obsfin.ch\/wp-content\/uploads\/2020\/04\/Tsironis-768x768.png 768w, https:\/\/www.obsfin.ch\/wp-content\/uploads\/2020\/04\/Tsironis-1x1.png 1w, https:\/\/www.obsfin.ch\/wp-content\/uploads\/2020\/04\/Tsironis.png 939w\" sizes=\"auto, (max-width: 150px) 100vw, 150px\" \/><\/a><\/td>\n<\/tr>\n<tr id=\"Tille\">\n<td style=\"width: 73.9849%; text-align: justify; border-color: #ffffff; border-style: solid;\"><span style=\"color: #000000;\"><strong>&#8222;\u2026 it is important to have a long enough horizon \u2026&#8220;<\/strong><\/span><\/p>\n<p><span style=\"color: #000000;\">It is important to get an accurate idea of the options to choose from. Raising GDP today through a rapid deconfinment may well lead to a second wave of epidemics and another recession. <span style=\"color: #ff0000;\"><strong>In the end the gain of short-term GDP can come at the cost of substantial loss in medium-turn GDP, and it is important to have a long enough horizon.<\/strong><\/span> Also the spread of the cost across the population matters: lowering a bit the expected life span of everyone is of less concern than substantially raising risk for a minority.<\/span><\/p>\n<p style=\"text-align: right;\"><span style=\"color: #000000;\"><strong>C\u00e9dric Tille<\/strong><\/span><strong><br \/>\n<\/strong><\/p>\n<p>&nbsp;<\/td>\n<td style=\"vertical-align: middle; width: 26.0152%; border-color: #ffffff; border-style: solid;\"><a href=\"http:\/\/www.obsfin.ch\/from-virus-to-vitamin\/contributors\/#Tille\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-2001 size-thumbnail\" src=\"http:\/\/www.obsfin.ch\/wp-content\/uploads\/2020\/04\/Tille-150x150.png\" alt=\"\" width=\"150\" height=\"150\" srcset=\"https:\/\/www.obsfin.ch\/wp-content\/uploads\/2020\/04\/Tille-150x150.png 150w, https:\/\/www.obsfin.ch\/wp-content\/uploads\/2020\/04\/Tille-300x300.png 300w, https:\/\/www.obsfin.ch\/wp-content\/uploads\/2020\/04\/Tille-1024x1024.png 1024w, https:\/\/www.obsfin.ch\/wp-content\/uploads\/2020\/04\/Tille-768x768.png 768w, https:\/\/www.obsfin.ch\/wp-content\/uploads\/2020\/04\/Tille-1536x1536.png 1536w, https:\/\/www.obsfin.ch\/wp-content\/uploads\/2020\/04\/Tille-1x1.png 1w, https:\/\/www.obsfin.ch\/wp-content\/uploads\/2020\/04\/Tille.png 1842w\" sizes=\"auto, (max-width: 150px) 100vw, 150px\" \/><\/a><\/td>\n<\/tr>\n<tr id=\"Roncella\">\n<td style=\"width: 73.9849%; text-align: justify; border-color: #ffffff; border-style: solid;\"><span style=\"color: #000000;\"><strong>&#8222;\u2026 <em>which\u00a0<\/em>economy we want to reopen rather than\u00a0<em>when<\/em> \u2026&#8220;<\/strong><\/span><\/p>\n<p><span style=\"color: #000000;\">This is a tricky question that reflects a common approach in mainstream economics: that is the cost-benefit analysis to frame decision-making problems. However, my guess is that there could be other lines to tackle the important questions our society is facing due to the outbreak of the virus. In my view, but I acknowledge a strong dependence on Harvard professor Michael Sandel\u2019s thought in this point, the principle of the common good should be taken back in the political and economic debate. While this may sound as a vague concept that does not indicate concrete path of actions, that is not the case. <span style=\"color: #ff0000;\"><strong>A society leaded by the principle of the common good will debate more about\u00a0<em>which\u00a0<\/em>economy we want to reopen rather than\u00a0<em>when\u00a0<\/em>we want to reopen<\/strong> <strong>it<\/strong>.<\/span> Everything is connected, as Pope Francis said in the Laudato S\u00ec, therefore should not be possibile to imagine an economy that does not take into account, for example, the health issue for all the workers.<\/span><\/p>\n<p style=\"text-align: right;\"><span style=\"color: #000000;\"><strong>Andrea Roncella<\/strong><\/span><strong><br \/>\n<\/strong><\/p>\n<p><strong>\u00a0<\/strong><\/td>\n<td style=\"vertical-align: middle; width: 26.0152%; border-color: #ffffff; border-style: solid;\"><a href=\"http:\/\/www.obsfin.ch\/from-virus-to-vitamin\/contributors\/#Roncella\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-1618 size-thumbnail\" src=\"http:\/\/www.obsfin.ch\/wp-content\/uploads\/2020\/04\/Roncella-150x150.png\" alt=\"\" width=\"150\" height=\"150\" srcset=\"https:\/\/www.obsfin.ch\/wp-content\/uploads\/2020\/04\/Roncella-150x150.png 150w, https:\/\/www.obsfin.ch\/wp-content\/uploads\/2020\/04\/Roncella-300x300.png 300w, https:\/\/www.obsfin.ch\/wp-content\/uploads\/2020\/04\/Roncella-1024x1024.png 1024w, https:\/\/www.obsfin.ch\/wp-content\/uploads\/2020\/04\/Roncella-768x768.png 768w, https:\/\/www.obsfin.ch\/wp-content\/uploads\/2020\/04\/Roncella-1536x1536.png 1536w, https:\/\/www.obsfin.ch\/wp-content\/uploads\/2020\/04\/Roncella-2048x2048.png 2048w, https:\/\/www.obsfin.ch\/wp-content\/uploads\/2020\/04\/Roncella-1x1.png 1w\" sizes=\"auto, (max-width: 150px) 100vw, 150px\" \/><\/a><\/td>\n<\/tr>\n<tr id=\"Payne\">\n<td style=\"width: 73.9849%; text-align: justify; border-color: #ffffff; border-style: solid;\"><span style=\"color: #000000;\"><strong>&#8222;\u2026 the common good should prevail over self and private interests &#8230;&#8220;<\/strong><\/span><\/p>\n<p><span style=\"color: #000000;\">I believe that we should be guided by principles of care, fairness, transparency and the common good when seeking to strike a balance between lives and\u00a0livelihoods.<\/span><br \/>\n<span style=\"color: #000000;\">We should act with <span style=\"color: #ff0000;\"><strong>care<\/strong><\/span> for every life.<\/span><br \/>\n<span style=\"color: #000000;\">Responses should be <span style=\"color: #ff0000;\"><strong>fair<\/strong><\/span>, reflecting an awareness of existing inequities and with particular concern for the needs of those who are most vulnerable.<\/span><br \/>\n<span style=\"color: #000000;\">Decision-makers should be <span style=\"color: #ff0000;\"><strong>transparent<\/strong><\/span> about the information and strategies that are guiding their decisions.<\/span><br \/>\n<span style=\"color: #000000;\"><strong><span style=\"color: #ff0000;\">Finally, the\u00a0common good\u00a0must prevail over self and private interests.<\/span><br \/>\n<\/strong>GDP has long been an inadequate measure of societal progress. Now, more than ever, we should look to measures of human wellbeing to guide us to the right answers.<\/span><\/p>\n<p style=\"text-align: right;\"><span style=\"color: #000000;\"><strong>Clare Payne<\/strong><\/span><strong><br \/>\n<\/strong><\/p>\n<p>&nbsp;<\/td>\n<td style=\"vertical-align: middle; width: 26.0152%; border-color: #ffffff; border-style: solid;\"><a href=\"http:\/\/www.obsfin.ch\/from-virus-to-vitamin\/contributors\/#Payne\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-1985 size-thumbnail\" src=\"http:\/\/www.obsfin.ch\/wp-content\/uploads\/2020\/04\/Payne-150x150.png\" alt=\"\" width=\"150\" height=\"150\" srcset=\"https:\/\/www.obsfin.ch\/wp-content\/uploads\/2020\/04\/Payne-150x150.png 150w, https:\/\/www.obsfin.ch\/wp-content\/uploads\/2020\/04\/Payne-1x1.png 1w, https:\/\/www.obsfin.ch\/wp-content\/uploads\/2020\/04\/Payne.png 213w\" sizes=\"auto, (max-width: 150px) 100vw, 150px\" \/><\/a><\/td>\n<\/tr>\n<tr id=\"Karmanska\">\n<td style=\"width: 73.9849%; text-align: justify; border-color: #ffffff; border-style: solid;\"><span style=\"color: #000000;\"><strong>&#8222;\u2026 understanding the concept of \u201ceconomic value\u201d \u2026 &#8222;<\/strong><\/span><\/p>\n<p><span style=\"color: #000000;\">The present time is a time of rest for the Earth, and for us &#8211; the people, it is a great opportunity to turn towards a universal system of values that determines our common &#8222;being&#8220; on this Planet. This is a time of demand, not so much for material goods as for the rare good, which is &#8222;truth&#8220;, for good in the form of closeness of friends and the possibility of touching nature.<span style=\"color: #ff0000;\"> <strong>This is a time that clearly realizes the global need to look for a balance between demand arising from the need to maintain physical and mental health of people scattered around the world and the dynamics of a distributed economic machine.<\/strong><\/span> The anchor for all activities can be the idea of sustainable development, but only if its implementation is synchronized globally and in international agreement. Today, this first of all requires developing a consensus on understanding the concept of &#8222;economic value,&#8220; because it is a flywheel for business, including pharmaceutical. Today, this value is still undefined and abused.<\/span><\/p>\n<p style=\"text-align: right;\"><span style=\"color: #000000;\"><strong>Anna Karma\u0144ska<\/strong><\/span><strong><br \/>\n<\/strong><\/p>\n<p><strong>\u00a0<\/strong><\/td>\n<td style=\"vertical-align: middle; width: 26.0152%; border-color: #ffffff; border-style: solid;\"><a href=\"http:\/\/www.obsfin.ch\/from-virus-to-vitamin\/contributors\/#Karmanska\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-1997 size-thumbnail\" src=\"http:\/\/www.obsfin.ch\/wp-content\/uploads\/2020\/04\/Karmanska-150x150.png\" alt=\"\" width=\"150\" height=\"150\" srcset=\"https:\/\/www.obsfin.ch\/wp-content\/uploads\/2020\/04\/Karmanska-150x150.png 150w, https:\/\/www.obsfin.ch\/wp-content\/uploads\/2020\/04\/Karmanska-1x1.png 1w, https:\/\/www.obsfin.ch\/wp-content\/uploads\/2020\/04\/Karmanska.png 231w\" sizes=\"auto, (max-width: 150px) 100vw, 150px\" \/><\/a><\/td>\n<\/tr>\n<tr id=\"Rudaz\">\n<td style=\"width: 73.9849%; text-align: justify; border-color: #ffffff; border-style: solid;\"><span style=\"color: #000000;\"><strong>&#8222;\u2026 long-term principles of development \u2026&#8220;<\/strong><\/span><\/p>\n<p><span style=\"color: #000000;\"><span style=\"color: #ff0000;\"><strong>Governments will soon have to choose between \u201chealth\u201d and \u201cGDP\u201d, because the economy was\u00a0<em>forced<\/em>\u00a0to slowdown. Striking a balance between these two imperatives can be easier if long-term principles of development prevail.<\/strong> <\/span>This translates into principles of responsible consumption and sustainable production for individuals and companies, which can be financed and can invest according to principles of patient capital. This means moving away from the unsustainable logics of financial and economic efficiency, which applied to their extreme brought us High Frequency Trading and Programmed Obsolescence. Hopefully this crisis will give a push for socio-economic movements that have emerged decades ago, such Slow Food, Sustainable Finance and Circular Economy.<\/span><\/p>\n<p style=\"text-align: right;\"><span style=\"color: #000000;\"><strong>Philippe Rudaz<\/strong><\/span><strong><br \/>\n<\/strong><strong>\u00a0<\/strong><\/p>\n<\/td>\n<td style=\"vertical-align: middle; width: 26.0152%; border-color: #ffffff; border-style: solid;\"><a href=\"http:\/\/www.obsfin.ch\/from-virus-to-vitamin\/contributors\/#Rudaz\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-1707 size-thumbnail\" src=\"http:\/\/www.obsfin.ch\/wp-content\/uploads\/2020\/04\/Rudaz-150x150.png\" alt=\"\" width=\"150\" height=\"150\" srcset=\"https:\/\/www.obsfin.ch\/wp-content\/uploads\/2020\/04\/Rudaz-150x150.png 150w, https:\/\/www.obsfin.ch\/wp-content\/uploads\/2020\/04\/Rudaz-300x300.png 300w, https:\/\/www.obsfin.ch\/wp-content\/uploads\/2020\/04\/Rudaz-768x768.png 768w, https:\/\/www.obsfin.ch\/wp-content\/uploads\/2020\/04\/Rudaz-1x1.png 1w, https:\/\/www.obsfin.ch\/wp-content\/uploads\/2020\/04\/Rudaz.png 849w\" sizes=\"auto, (max-width: 150px) 100vw, 150px\" \/><\/a><\/td>\n<\/tr>\n<tr id=\"Dowbor\">\n<td style=\"width: 73.9849%; text-align: justify; border-color: #ffffff; border-style: solid;\">\n<h3><span style=\"color: #000000;\"><strong>&#8222;&#8230; the health versus economy tradeoff makes no sense &#8230;&#8220;<\/strong><\/span><\/h3>\n<p><span style=\"color: #000000;\">There is no trade-off between health and GDP. World GDP for 2019 is US$85 trillion, divided by 7.8 billion populations, it shows we produce roughly US$3,700 worth of goods and services per 4-member family. What we produce is sufficient for a dignified life for all, even if inequality is just reasonably reduced. Access to universal health is part of it. Our problem is much more a policy problem than an economic problem. <span style=\"color: #ff0000;\"><strong>Concerning the present COVID-19 challenge, the health versus economy tradeoff makes no sense either. The key issue is to reduce the speed the virus is spreading, as the China versus US policies show.<\/strong> <\/span>Improving the virus control will enable us to catch up with GDP.<\/span><\/p>\n<p style=\"text-align: right;\"><span style=\"color: #000000;\"><strong>Ladislau Dowbor<\/strong><\/span><strong><br \/>\n<\/strong><\/p>\n<p><strong>\u00a0<\/strong><\/td>\n<td style=\"vertical-align: middle; width: 26.0152%; border-color: #ffffff; border-style: solid;\"><strong><a href=\"http:\/\/www.obsfin.ch\/from-virus-to-vitamin\/contributors\/#Dowbor\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-1631 size-thumbnail\" src=\"http:\/\/www.obsfin.ch\/wp-content\/uploads\/2020\/04\/Dowbor-150x150.png\" alt=\"\" width=\"150\" height=\"150\" srcset=\"https:\/\/www.obsfin.ch\/wp-content\/uploads\/2020\/04\/Dowbor-150x150.png 150w, https:\/\/www.obsfin.ch\/wp-content\/uploads\/2020\/04\/Dowbor-300x300.png 300w, https:\/\/www.obsfin.ch\/wp-content\/uploads\/2020\/04\/Dowbor-1024x1024.png 1024w, https:\/\/www.obsfin.ch\/wp-content\/uploads\/2020\/04\/Dowbor-768x768.png 768w, https:\/\/www.obsfin.ch\/wp-content\/uploads\/2020\/04\/Dowbor-1x1.png 1w, https:\/\/www.obsfin.ch\/wp-content\/uploads\/2020\/04\/Dowbor.png 1406w\" sizes=\"auto, (max-width: 150px) 100vw, 150px\" \/><\/a><\/strong><\/td>\n<\/tr>\n<tr id=\"St\u00fcckelberger\">\n<td style=\"width: 73.9849%; text-align: justify; border-color: #ffffff; border-style: solid;\">\n<h3><span style=\"color: #000000;\"><strong>&#8222;&#8230; <b>in each case it is a loss of a human life<\/b> &#8230;&#8220;<\/strong><\/span><\/h3>\n<p><span style=\"color: #000000;\">Whether somebody dies from Coronavirus, from hunger, from polluted water, depression or cancer because of air pollution \u2013 in each case it is a loss of a human life. The other way round: all measures who save and extend life, are similarly important, from an ethical perspective. <span style=\"color: #ff0000;\"><b><span class=\"colour\">This means that health measures to limit the pandemic and economic measures to decrease unemployment or provide drinkable water cannot play off against each other.<\/span> <span class=\"colour\">The ethical imperative is then rather that economic measures have to be measured against its impact on saving and extending life.<\/span><\/b><\/span> During the COVID-19 pandemic, governmental programmes to stimulate food production and distribution are therefore more justified than to stimulate the sales of luxury watches. COVID lockdown measures are justified as long as the risk of massive losses of lives still exists. However, the weighing up goods means to promote those economic, political and health measures which produce the lowest number of losses of lives.<\/span><\/p>\n<p style=\"text-align: right;\"><span style=\"color: #000000;\"><strong><b>Christoph St\u00fcckelberger<\/b><\/strong><\/span><strong><br \/>\n<\/strong><\/p>\n<p><strong>\u00a0<\/strong><\/td>\n<td style=\"vertical-align: middle; width: 26.0152%; border-color: #ffffff; border-style: solid;\"><a href=\"http:\/\/www.obsfin.ch\/from-virus-to-vitamin\/contributors\/#St\u00fcckelberger\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-1621 size-thumbnail\" src=\"http:\/\/www.obsfin.ch\/wp-content\/uploads\/2020\/04\/Stuckelberger-150x150.png\" alt=\"\" width=\"150\" height=\"150\" srcset=\"https:\/\/www.obsfin.ch\/wp-content\/uploads\/2020\/04\/Stuckelberger-150x150.png 150w, https:\/\/www.obsfin.ch\/wp-content\/uploads\/2020\/04\/Stuckelberger-300x300.png 300w, https:\/\/www.obsfin.ch\/wp-content\/uploads\/2020\/04\/Stuckelberger-1024x1024.png 1024w, https:\/\/www.obsfin.ch\/wp-content\/uploads\/2020\/04\/Stuckelberger-768x768.png 768w, https:\/\/www.obsfin.ch\/wp-content\/uploads\/2020\/04\/Stuckelberger-1536x1536.png 1536w, https:\/\/www.obsfin.ch\/wp-content\/uploads\/2020\/04\/Stuckelberger-1x1.png 1w, https:\/\/www.obsfin.ch\/wp-content\/uploads\/2020\/04\/Stuckelberger.png 1947w\" sizes=\"auto, (max-width: 150px) 100vw, 150px\" \/><\/a><\/td>\n<\/tr>\n<tr id=\"Sinha\">\n<td style=\"width: 73.9849%; text-align: justify; border-color: #ffffff; border-style: solid;\"><span style=\"color: #000000;\"><strong>&#8222;\u2026 Work and health are two pillars of our lives in the new world order \u2026&#8220;<\/strong><\/span><\/p>\n<p><span style=\"color: #000000;\">The COVID-19 pandemic is impacting our lives, as well as our social networks and transactions in ways that we are only now beginning to comprehend. Importance of international cooperation on public health will be highlighted especially in population dense areas. Already everyone in the global village is starting to draw lessons. Many certainties and convictions will be swept away. Many things that we thought were impossible are happening. The day after when we have won, it will not be a return to the day before, we will be stronger morally. <span style=\"color: #ff0000;\"><strong>There can be no return to normal because normal was the problem in the first place. We will have to think about to find another model for economy and health, in which collective needs will be better satisfied in terms of health system and domains of work in public space.<\/strong> <\/span>Public life may be at a standstill, but public debate will be accelerated, and everything will be up for debate<\/span><\/p>\n<p style=\"text-align: right;\"><span style=\"color: #000000;\"><strong> Archana Sinha<\/strong><\/span><\/p>\n<p>&nbsp;<\/td>\n<td style=\"vertical-align: middle; width: 26.0152%; border-color: #ffffff; border-style: solid;\"><a href=\"http:\/\/www.obsfin.ch\/from-virus-to-vitamin\/contributors\/#Sinha\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-1993 size-thumbnail\" src=\"http:\/\/www.obsfin.ch\/wp-content\/uploads\/2020\/04\/Sinha-150x150.png\" alt=\"\" width=\"150\" height=\"150\" srcset=\"https:\/\/www.obsfin.ch\/wp-content\/uploads\/2020\/04\/Sinha-150x150.png 150w, https:\/\/www.obsfin.ch\/wp-content\/uploads\/2020\/04\/Sinha-300x300.png 300w, https:\/\/www.obsfin.ch\/wp-content\/uploads\/2020\/04\/Sinha-1x1.png 1w, https:\/\/www.obsfin.ch\/wp-content\/uploads\/2020\/04\/Sinha.png 321w\" sizes=\"auto, (max-width: 150px) 100vw, 150px\" \/><\/a><\/td>\n<\/tr>\n<tr id=\"Fiole\">\n<td style=\"width: 73.9849%; text-align: justify; border-color: #ffffff; border-style: solid;\"><span style=\"color: #000000;\"><strong>&#8222;\u2026 both lives and livelihoods are elements of dignified human flourishing \u2026&#8220;<\/strong><\/span><\/p>\n<p><span style=\"color: #000000;\">The question on guiding principles towards a balance between lives and livelihoods can be rephrased as to ask what the vitamin for this virus-induced, seeming dichotomy really is. <span style=\"color: #ff0000;\"><strong>Both lives and livelihoods are elements of dignified human flourishing. <\/strong><\/span>If this would be the umbrella consideration, policy makers should understand what in their fiduciary roles versus groups in society, flourishing concretely means. After that, based on these special, fiduciary duties, measures focused on employment, medical care, public life, finances and other domains can be defined, weighted and implemented adaptively. While this may yield semi-maximized flourishing for a population, it may cause the opposite for an individual.<span style=\"color: #ff0000;\"><strong> Continuous recalibrating remains necessary and the opportunity cost of failing leadership will be recognized to be high.<\/strong><\/span><\/span><\/p>\n<p style=\"text-align: right;\"><span style=\"color: #000000;\"><strong>Eelco Fiole<\/strong><\/span><\/p>\n<p>&nbsp;<\/td>\n<td style=\"vertical-align: middle; width: 26.0152%; border-color: #ffffff; border-style: solid;\"><a href=\"http:\/\/www.obsfin.ch\/from-virus-to-vitamin\/contributors\/#Fiole\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-1704 size-thumbnail\" src=\"http:\/\/www.obsfin.ch\/wp-content\/uploads\/2020\/04\/Fiole-150x150.png\" alt=\"\" width=\"150\" height=\"150\" srcset=\"https:\/\/www.obsfin.ch\/wp-content\/uploads\/2020\/04\/Fiole-150x150.png 150w, https:\/\/www.obsfin.ch\/wp-content\/uploads\/2020\/04\/Fiole-300x300.png 300w, https:\/\/www.obsfin.ch\/wp-content\/uploads\/2020\/04\/Fiole-1x1.png 1w, https:\/\/www.obsfin.ch\/wp-content\/uploads\/2020\/04\/Fiole.png 679w\" sizes=\"auto, (max-width: 150px) 100vw, 150px\" \/><\/a><\/td>\n<\/tr>\n<tr id=\"Wielecki\">\n<td style=\"width: 73.9849%; text-align: justify; border-color: #ffffff; border-style: solid;\"><span style=\"color: #000000;\"><strong>&#8222;\u2026 first there is man and values \u2026&#8220;<\/strong><\/span><\/p>\n<p><span style=\"color: #000000;\"><strong><span style=\"color: #ff0000;\">First there is man and values that determine humanity including solidarity.<\/span><br \/>\n<\/strong>Three strategies are possible in a crisis: development; stagnant or regressive; three categories of economists also.<\/span><br \/>\n<span style=\"color: #000000;\">Every economic crisis closes and opens up some opportunities. We need understand the logic of the crisis and then use it.<\/span><br \/>\n<span style=\"color: #000000;\">The task of a pandemic economy is:<br \/>\n<\/span><span style=\"color: #000000;\">1. developing, implementing strategies to maintain purchasing capacity for goods needed in a pandemic<br \/>\n<\/span><span style=\"color: #000000;\">2. legal, financial and logistical support for the quick restructuring of the economy, so that supply capacity in this area arises<br \/>\n3. <\/span><span style=\"color: #000000;\">developing and implementing an economy restructuring strategy for the post-pandemic period<br \/>\n4. <\/span><span style=\"color: #000000;\">financial, legal and logistical stimulation of such a strategy<br \/>\n5. <\/span><span style=\"color: #000000;\">strengthening demand capacity after a pandemic.<br \/>\n<\/span><span style=\"color: #000000;\">The source of financing, when there are no others, are investment returns &#8211; on a national, regional or global scale.<\/span><\/p>\n<p style=\"text-align: right;\"><span style=\"color: #000000;\"><strong>Krzysztof Wielecki<\/strong><\/span><\/p>\n<p>&nbsp;<\/td>\n<td style=\"vertical-align: middle; width: 26.0152%; border-color: #ffffff; border-style: solid;\"><a href=\"http:\/\/www.obsfin.ch\/from-virus-to-vitamin\/contributors\/#Wielecki\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-1989\" src=\"http:\/\/www.obsfin.ch\/wp-content\/uploads\/2020\/04\/Wielecki.png\" alt=\"\" width=\"150\" height=\"150\" srcset=\"https:\/\/www.obsfin.ch\/wp-content\/uploads\/2020\/04\/Wielecki.png 136w, https:\/\/www.obsfin.ch\/wp-content\/uploads\/2020\/04\/Wielecki-1x1.png 1w\" sizes=\"auto, (max-width: 150px) 100vw, 150px\" \/><\/a><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n","protected":false},"excerpt":{"rendered":"<p>OF Discussion Board n\u00b02 &#8211; 29 April 2020 Question asked : &#8222;What principles should guide us in striking the balance [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":0,"parent":0,"menu_order":602,"comment_status":"closed","ping_status":"closed","template":"page-templates\/full-width.php","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"class_list":["post-2047","page","type-page","status-publish","hentry"],"_links":{"self":[{"href":"https:\/\/www.obsfin.ch\/de\/wp-json\/wp\/v2\/pages\/2047","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.obsfin.ch\/de\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/www.obsfin.ch\/de\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/www.obsfin.ch\/de\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/www.obsfin.ch\/de\/wp-json\/wp\/v2\/comments?post=2047"}],"version-history":[{"count":8,"href":"https:\/\/www.obsfin.ch\/de\/wp-json\/wp\/v2\/pages\/2047\/revisions"}],"predecessor-version":[{"id":2984,"href":"https:\/\/www.obsfin.ch\/de\/wp-json\/wp\/v2\/pages\/2047\/revisions\/2984"}],"wp:attachment":[{"href":"https:\/\/www.obsfin.ch\/de\/wp-json\/wp\/v2\/media?parent=2047"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}