2 chapters across the catalog
Behavioral economist Tim Kaine from the Hoover Institution analyzes the "panic buying" phenomenon at retailers like Costco. He references the diamond-water paradox to explain how people currently value a sense of assurance over material goods. Kaine argues that the panic is disproportionate to the actual fatality rate of the disease.
The discussion shifts to the behavior of millennials during the crisis and the real-world consequences of panic, such as the interruption of medication supply lines and the decline of business at Chinese restaurants. Dr. Drew Pinsky emphasizes that the seasonal flu remains a significant threat, urging people to follow CDC guidelines and get flu shots while avoiding obsession with the coronavirus.
