Quote:
Originally Posted by PepsiFree
How do you believe a shallower recession and better recovery over the last 2 years will more negatively impact them in five years?
EDIT: And on that point, but more specifically, do you believe the mental health impacts of economic expansion, low death rate, and an unemployment rate that rose by less than 2% will somehow turn out to be worse than extended recession, much higher death rates, and an unemployment rate that rose nearly 10%?
There are certain things we can wait and see about. I don't think it's correct regarding some of what you listed, and I don't believe it's going to take decades to find out. Especially, as I stated, there are phases to this thing we can separate out. We know New Zealand's approach was economically beneficial compared to many, many others. We know it protected the population physically (and mentally, if your choice is between lockdowns and seeing those around you die). We know it this now. What happens over the next year might mean a different situation a year from now, and 4-5 years down the line will account for all of it. But taking 5 years of during and (hopefully) post-pandemic and trying to judge the entire thing is going to be impossible. To actually learn anything from it, we need to look at it from a more micro level than that.
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View it from economics or mental health or however you want, but I can tell you having family in both of these countries, that neither Australia or NZ has weathered this storm in a way that would permit their respective population to be content enough to pat themselves on the back for being what amounts to the best of the worst.
People lost their livelihoods due to lack of foreign investment and tourism etc. and many people still saw loved ones die despite more harsh restrictions in place - neither country was above this despite their handling of the pandemic either. Can much be learned by looking at it now, yes, I'll give you that, but considering the mental health, and physical health fallout that is still so far removed from being known, together with the hesitancy for widespread tourism to get back to pre-pandemic levels in either country, much of this is still not yet quantifiable.