The perception of the risks of the Covid-19 crisis are now so exaggerated that it demonstrates how fear has become the only true enduring reality of the pandemic. The gap between the reality and perception around Covid risks – almost a factor of 100 – shows how...

What happens when governments confuse worst-case scenarios with reality? They transform a health crisis into a social crisis and an economic tsunami, with consequences more severe than the virus could produce in the first place. As I write, hundreds of thousands of...