most of the people that would die would be on welfare/pension, so I think the damage done from all the healthy people that are now, and about to be out of work would be much worse?
How much will it cost the economy from all the mental health issues this is going to cause? Hysteria driving up anxiety and paranoia that some people will never be able to work again, people that were looking to retire in upcoming years watching their 401's plummet and realising they can no longer afford to, people going derranged and depressed from being locked up, depression and substance abuse from healthy men that once were able to provide for their families but are now out of work and feel worthless.
This will all cause suicide rates to spike, and that will be healthy men that could otherwise contribute to the GDP, not over 80's like corona is taking.
I think these are very fair arguments and I don't disagree with the concerns at all. I just find the arguments that this is an economic harm only as pretty disingenuous. The economics appear to require intervention by everything I'm reading. There's surely going to far with that and every model predicts 3-4 week on 3-4 week plateau then let up.If we go bigger than that, surely there is much higher economic harm.
I suspect all the things you are saying are true, but I'd argue some of it. For instance the 401k hit was coming regardless because of the Coronavirus, not the interventions...at least to date. The market dropped on supply chain fears, travel advisories, etc. Regardless of requirement, that was coming and happening already.
To your last point, I'm not sure I could come up with a position beyond the economic utilitarian one for choosing a life in this argument by age. Healthy low pay 40 year? 80 year wisdom and experience? In the 1990s GH Bush tried to scale government death benefits to 67% of those above (I think it was ) 70. AARP lost their minds and canceled that en bloc. So at least some people, for a very long time, agree with you. 2/3rds is the value of the highest risk group on paper at that time.