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July 1, 2020

How wearing masks can save 5% of US GDP during Covid-19 pandemic

By Paul Dennis

1 July

Covid-19 cases in the US are on the rise again as many states have withdrawn lockdown relaxations and imposed stay-at-home orders.

Another round of lockdown measures could prove devastating to the US economy. A nationwide policy urging people to wear masks could help save the economy.

Christopher Ingraham, a journalist, shared an article on research conducted by a team of economists at Goldman Sachs that revealed that wearing masks can help in saving 5% of GDP in the US.

The article notes that another round of lockdowns can be avoided if the US implemented a nationwide mask policy mandating everyone to wear a mask.

The US has not adopted a mask policy compared to Europe and Asia, where masks have witnessed a widespread uptake.

The article notes that state-wise implementation of mask policy has helped in cutting infection rate by 25%.

A country-level implementation may help in reducing the infection rate.

Read more

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