Tyler Cowen, Columnist

The Phantom Risk of Covid-19

Some parts of the economy will struggle even after most of the dangers of the virus have passed.

Not taking any chances in the classroom.

Photographer: Cheney Orr/Bloomberg

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When it comes to Covid-19, I worry about the problem of “phantom risk.” Right now the risks of Covid-19 are very real, but at some point we still will feel those risks when they are no longer present, much as some amputees may feel a “phantom limb.”

How this might play out?