Opinion: Lives versus livelihoods: cost-benefit analysis of lockdown needs to be done before opening up

Priyaranjan Jha, UCI professor of economics writes, “The main benefit of the mitigation efforts comes from the lives saved. According to one estimate in an influential paper by Neil Ferguson and co-authors of Imperial College London, enhanced social distancing of the type adopted in India could potentially save 2 million lives compared to the case without any mitigation efforts. How does one evaluate the economic benefits of 2 million lives saved?”