Monday, April 22, 2013

[gsmdsyux] Thirty million dead

Take the economic loss of a recession and convert it into an equivalent body count, that is, the number of random people who would need to die to cause the same amount of economic loss.

My quick calculation is 30 million deaths: a drop from 2.5% growth to 0% sustained over 4 years, so a 10% loss.  A 10% loss of population would also cause a 10% loss of economic output.

A recession is bad but considered survivable, so society takes actions only so much to prevent the harms of recession.  What magnitude (including frequency) of a terrorist attack warrants actions that disrupt people's daily lives more than the actions comparably taken to prevent recessions?

The inspiration is Tsarnaev not having his Miranda rights read upon arrest because of invocation of the public safety exception.  How much public safety should be at stake to invoke the clause?

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