This feels like it's based on a lot of "gut feel", though I appreciate he devils-advocate argument. Specifically, these points: > it might not significantly alter the emotional balance of those who survive. That's particularly true in those countries whose authorities successfully downplay the effects of covid-19, e.g. by not doing much testing.

Most countries in the world rely on global supply chains, and many countries are now closing their borders to external trade, meaning that their own prices will sky-rocket, likely causing layoffs and bankruptcies, causing stimulus packages and therefore inflation. The world is very interconnected (as I'm sure you know)

In addition, I believe that many people would suffer significantly _more_ if many more people were dying around them. They would have friends and family who died or who were tied to people who died. I don't think it would be something as simple as "eh, someone else's problem". In addition, it's not just deaths -- there is a lot of data showing that there are long-term lung issues that develop if you do survive.