Author: Javier Arcos Hódar

Reducing the Chance of New Pandemics

It has been months since the novel coronavirus hit Western countries, and many are now wondering how and when normality will return and what a new normal might look like. Some expect that a second wave of infection will be avoided by seasonal properties inherent in the virus, while others contend that this will only happen if strong action is taken to contain it. Some expect that a vaccine will allow a rapid return to the world we had before, while others argue that even if such a vaccine were to be developed, it would permit no such thing. Absent from many of these discussions is how to avoid another situation like this one. The argument can be framed in simple economic terms or in more complex terms related to existential risk and the very future of our species on Earth. The current pandemic is estimated to have cost nations on average a third of the world’s GDP—over 30 trillion US dollars—so spending billions on even a marginal reduction of the probability of another such …