The lockdowns weren't worth it

I’ve looked at more than 100 regions and countries. None have seen exponential growth of the pandemic continue until herd immunity was reached, regardless of whether a government lockdown or other stringent measure was imposed. People eventually revert to more-relaxed behavior. When they do, the virus starts spreading again. That’s why we see the “inverted U-shape” of cases and deaths everywhere.

Sweden was the first to learn this lesson, but many other countries have confirmed it. Initially held up as a disaster by many in the pro-lockdown crowd, Sweden has ended up with a per capita death rate indistinguishable from that of the European Union. In the U.S., Georgia’s hands-off policies were once called an “experiment in human sacrifice” by the Atlantic. But like Sweden, Georgia today has a per capita death rate that is effectively the same as the rest of the country.

That isn’t to say that restrictions have no effect. Had Sweden adopted more-stringent restrictions, it’s likely the epidemic would have started receding a bit earlier and incidence would have fallen a bit faster. But policy may not matter as much as people assumed it did. Lockdowns can destroy the economy, but it’s starting to look as if they have minimal effect on the spread of Covid-19.