The onslaught of information about the coronavirus can do as much harm as good, particularly when it comes to the economy. In what some have called an “infodemic” Utahns like me are asking questions:
How do I keep myself and the people I love safe?
What sources of information should I trust?
Is our response proportionate to the risk?
Are we overreacting and hurting our economy in the process?
How do we synchronize the public health imperative with sound economic reasoning?
I can’t answer these questions with precision, but it’s clear the virus will impact some of us, while an economic slowdown will impact all of us. It’s important we take calm and rationale actions to minimize the economic impact even as we follow public health guidelines.
With this in mind, I’ve crafted six economic rules to help Utah during a pandemic. The rules are the economic equivalent of hand-washing and not touching your face.
1. Follow the guidance of trusted sources: In a public health emergency the sources of choice are the Centers for Disease Control and Prevention and the Utah Department of Health. It is NOT the tsunami of information, misinformation and rumors circulating on social media. Consider it a blessing of your citizenship that the CDC and Utah Department of Health are on your side. Listen to them and sync your economic actions with th