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Covid-19: A Trade-off between Political Economy and Ethics

Author

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  • Schneider Henrique

    (Nordakademie gAG, Elmshorn, Germany)

Abstract

This paper investigates the trade-off between economics and ethics applying them to “lockdowns” as a policy measure to counter the Covid-19-pandemic. This is an academic research on the nature and mechanism of trade-offs in so far as they apply to decision making. In the course of the line of inquiry pursued here, several different ways of trading off are assessed. In applying them to the pandemics, each yield a different answer to the adequacy of lockdowns as measures against the pandemic. The economic trade-off found “optimalcy” conditions, the utilitarian-ethical trade-off failed to do so revealing that there is a problem using “scientific evidence” as basis for such a trade-off. The value-ethical trade-off found out that lockdowns do not pass the test of proportionality within the usual constitutional framework.

Suggested Citation

  • Schneider Henrique, 2021. "Covid-19: A Trade-off between Political Economy and Ethics," Statistics, Politics and Policy, De Gruyter, vol. 12(2), pages 323-340, December.
    • Handle: RePEc:bpj:statpp:v:12:y:2021:i:2:p:323-340:n:3
    DOI: 10.1515/spp-2021-0001
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    More about this item

    Keywords

    lockdown; ethics; trade-off; GDP; cost;
    All these keywords.

    JEL classification:

    • A11 - General Economics and Teaching - - General Economics - - - Role of Economics; Role of Economists
    • D61 - Microeconomics - - Welfare Economics - - - Allocative Efficiency; Cost-Benefit Analysis
    • D80 - Microeconomics - - Information, Knowledge, and Uncertainty - - - General
    • I18 - Health, Education, and Welfare - - Health - - - Government Policy; Regulation; Public Health

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