OpinionsEcon 101Money or life

Money or life

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Money can buy power. Money can buy fame. Money can buy time. Sometimes money can even buy a life.

Thus, money has become the first common goal for everybody. Or would some people say that money is the measurement of success in life? Or would others say that our goal is for life to be peaceful and happy?

The coronavirus pandemic has caused a rethinking of this philosophical conflict — money or life? Financial security or health security?

Some kind of rebellion broke out from many sectors, on the Enhanced Community Quarantine, curbing everyone’s shopping time or liberty to travel, or work for a living, and other restrictions, to ensure that everyone Stay at Home.

Many grumblings have found their way to deep dissent on the entire coronavirus lockdown policy. There is an ongoing debate on the costs and benefits, which may be a profound class war — your money or your life, which is perceived differently by different classes of people.

Congratulate yourself if you are able to comply with the strict ECQ policy with no hitches nor financial constraints — meaning, your pantry, refrigerator or storage is full of consumables and essential goods to survive for the next two months or even more.

Well-meaning businessmen, professionals, and civic-hearted residents are bonding together to donate, volunteer, provide personal protective equipment, masks, food, etc to frontliners and to the less-advantaged, but how long will the donations last?

Pinoys know that poverty kills, then, economic shutdown will kill and harm.

But can the coronavirus pandemic response be managed to minimize so as the death toll, with minimal economic damage?

As soon as scientists, together with high government officials, start talking about extending the ECQ a month or even three or six months, or even a year, people are just shocked at what they had just heard — akin to entering a realm of sinister fantasy in which the cure has taken over as the biggest threat to our economy saddled with high levels of public and private debt.

Remember, majority of the Pinoys live below the poverty line, with a majority small medium enterprises that are mostly family-owned as a main source of livelihood.

Analysts predict that mounting unemployment, bankruptcy, domestic violence, and burgeoning mental health issues, among others, would probably result if the normal functioning of society remains paralyzed.

Is a prolonged ECQ the only viable way?

Social Democratic Sweden refuses to lock down: “To Swedes, it’s the rest of the world engaging in a reckless experiment, quoting Orwell on self-censorship and the threat of totalitarianism”. Further stating that ”exaggerated fear of falling ill from the coronavirus and dying have idled the nation, and all become hypochondriacs, along with the decay of the moral fibre of the nation — a shutdown helps to erode the work ethic of a generation.”

Are the country’s polls showing that the Pinoys are massively in favor of this life-saving isolation?

Or do people prefer everyday political decisions weighing life against money to be done through scientists/analysts or sound common sense?

Pray that our decision makers will be guided, as these challenges have no easy answers.

Keep safe everyone! Observe physical distancing.

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Author’s email: [email protected]

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