Economics is the Dismal Science. Scarcity is the usual reason given for it being so. Personally, I find the most dismal aspect of it to be how many people don’t understand economics. It’s enough to make a man take off his hat, throw it on the ground, and stomp on it.
Does Winnie the Flu kill people? Yes. It does. However, you know what else kills people? A faltering, let alone crashed, economy. The thing is this is exactly the kind of thing you get with Bastiat’s “seen and unseen”. Those directly (or slightly indirectly through opportunistic infections) killed by Winnie are seen. Those who die because a treatment was delayed, or their heat was turned off because they were laid off and couldn’t afford it, or any of a host of other little things of people “at the margins” where the difference between “good economy” and “economy in the toilet” made the difference. Those are the “unseen.” Oh, sure, individually someone sees folk dying but mostly they’re the kind of folk who might well have died anyway. We just get more of the “might” turning into “did”.
They go unnoticed in the general scheme of things. There isn’t a single cause that people can point to saying “see, that’s killing people.” It’s a thousand little things where if things had been just a bit better they would not have died. People don’t make the connection to the the faltering economy, not until it gets truly awful (as in third-world poverty levels). But the connection remains. Hurt the economy and people die who would not have died otherwise.
However, attempt to raise this issue, to explain it to people, and sure as taxes, someone will tell you what a horrible person you are for putting money above people’s lives. They can’t seem to grasp that the money (or rather, the goods and services, and the economy that produces those goods and services) is people’s lives.
And that is pretty damn dismal.