Just before midnight Sunday, President Trump unleashed an all-caps tweet signaling a change of heart on national Covid-19 containment strategy. “We cannot let the cure be worse than the problem itself,” he wrote. “At the end of the 15 day period we will make a decision as to which way we want to go!” The immediate reaction to the tweet broke down along familiar lines. Either it was yet another example of erratic leadership from a president more concerned with how the state of the economy will affect his re-election prospects than with the public health, or it was a bold attempt to avert an oncoming devastating recession that has been fueled by partisan media hype. There are clearly a range of different economic consequences associated with different strategies for fighting the Covid-19 epidemic, although the chorus of right-wing economists who pounced on the President’s tweet to argue that it was already time to end stay-at-home orders and send people back to work don’t appear to have thought through just how economically devastating a wholly unmitigated outbreak would be. More importantly, few, if any respondents to the tweet took time to note that the content actually ma...