Opening the Economy Won’t Save the Economy

Matthew Yglesias: “This will be an experiment, of course, but the best available evidence casts doubt on the idea that enough customers will return to make it possible for small businesses to stay viable without additional government assistance.”

“For example, we know customers began abandoning America’s restaurants before they were ordered closed, that the handful of states that have avoided broad lockdown orders are still feeling economic pain, and that huge swaths of the economy that have not been shut down are nonetheless experiencing a precipitous decline in sales.”

“The online reservation booking service OpenTable has thoughtfully provided the public with data on reservation volume in every city where they operate. The conclusion: There are some reckless people, but the typical human being is not that interested in risking her life for a dinner out.”