Here is a rule of thumb that will be familiar to many who manage risk in a professional capacity: The time to get creative is when you face a capped downside on the one hand, and an uncapped upside on the other. The time to get conservative is when you face the opposite condition. The reason for this rule is that creative policies almost never work; but when they work, they have a much higher chance of working extrao…
This is a smart observation. The UK is now taking the conservative view because it's the long term view, that this will likely become a recurring seasonal virus (or a one-time virus that keeps knocking on your door until you get it), and therefore there's not much point in a national "lockdown" to "stop" the virus, because as soon as a nation relaxes its lockdown the virus will simply pick up right where it left off.…
Also, it becoming seasonal could also be a self fulfilling prophecy due to its policy.