There is so much to be learned from the entirely botched handling of the COVID-19 crisis. There are lessons about markets compared to command-and-control, wartime versus peacetime institutions, decision making under uncertainty, scientific progress and much more. I am likely to write a post about each of these, starting with today’s installment: the cost of half measures. Let’s start with the observation that most people still don’t seem to understand exponential growth (another lesson right ...