In the face of a debate about when the US might “reopen” commerce to limit economic fallout from the covid-19 pandemic, a study coauthored by MIT Sloan economist Emil Verner shows that restricting economic activity to protect public health actually generates a stronger economic rebound.
Using data from the flu pandemic that swept the US in 1918–19, the working paper finds cities that did more to limit social and civic interactions had more economic growth later. Indeed, cities that implemented social distancing and other interventions just 10 days earlier than their counterparts saw a 5% relative increase in manufacturing employment after the pandemic ended, through 1923. Similarly, an extra 50 days of social distancing was worth a 6.5% increase in manufacturing employment.
Verner says the implications are clear: “It casts doubt on the idea there is a trade-off between addressing the impact of the virus, on the one hand, and economic activity, on the other hand, because the pandemic itself is so destructive for the economy.”
A horrifying new AI app swaps women into porn videos with a click
Deepfake researchers have long feared the day this would arrive.
We can’t afford to stop solar geoengineering research
It is the wrong time to take this strategy for combating climate change off the table.
Meet Altos Labs, Silicon Valley’s latest wild bet on living forever
Funders of a deep-pocketed new "rejuvenation" startup are said to include Jeff Bezos and Yuri Milner.
The new version of GPT-3 is much better behaved (and should be less toxic)
OpenAI has trained its flagship language model to follow instructions, making it spit out less unwanted text—but there's still a way to go.
Get the latest updates from
MIT Technology Review
Discover special offers, top stories, upcoming events, and more.