Strategic COVID-19 Pandemic Committee 

Which is worse for the economy, the pandemic or public health restrictions?

COVID-19 Questions & Myths

Also see: “The COVID-19 restrictions are saving lives”

It is difficult to determine the separate effects of the pandemic, lockdowns, and other public health restrictions on the economy while still in the pandemic. However, countries such as South Korea, Singapore, Taiwan, China, and Australia have managed to reduce the number of COVID-19 infections using strict lockdowns. It appears that the pandemic effect on their economies has been substantially less than countries with fewer restrictions, as they have resumed more normal economic activity earlier.

Places that have delayed, inconsistent or no lockdowns, such as Argentina, the US and the UK, have seen severe economic harm because of illness in workers and consumers, and people voluntarily avoiding businesses.