Not 1918

Lockdowns flatten the โ€œeconomic curve,โ€ too. Cities that locked down faster in 1918 bounced back better.

The problem: this is not 1918. The economy is nothing like it was then. It was resilient in a way ours is just not, and itโ€™s too late at this point to change it quickly during a pandemic. Also, then the US was about 40% urban and now itโ€™s about 80% (by population).

Again, this is not 1918 and that time is not particularly instructive.

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