[Question] What are the long-term outcomes of a catastrophic pandemic?

https://www.lesswrong.com/posts/KhFTCgprxSFgvxas6/what-are-the-long-term-outcomes-of-a-catastrophic-pandemic

Wei Dai now writes, The world is probably going to lose > 5 2.5-10% of its population (380 190-760 million, see here for the reason for my edit), worse than the Spanish flu even on a percentage basis.I have some questions about this conclusion and I’m still unsure whether to treat this sort of argument very seriously. But suppose it does come out that between 2.5% to 10% of the world population will die. What are likely results? I have speculated some of the following. Let me know whether anyone here would agree with my tentative reactions. If the death rate is towards the upper end of 10%, my reactions are probably conservative as I see worse things also happening. Individually I expect each to happen with >50% probability conditional on the above death rate:

Comment

https://www.lesswrong.com/posts/KhFTCgprxSFgvxas6/what-are-the-long-term-outcomes-of-a-catastrophic-pandemic?commentId=tPBDXKLRCAfr9gqvP
  • Significant political regime disruption in some places, Iran specifically (probably for the better there)

  • Depending on how much Chinese government fudges with the current numbers they will appear to a) have bungled at first b) actually efficiently handled the problem at an enormous scale and US will appear to do things in the opposite order. Which leads me to...

  • Trump is weakened and Bloomberg’s position is going to look very strong: some actual history of crisis management, strong-man people feel comfortable with in times of uncertainty, plus he "owns" one of coutry’s top med schools

  • Massive disruption in service sector as people cut down on non-necessities…

https://www.lesswrong.com/posts/KhFTCgprxSFgvxas6/what-are-the-long-term-outcomes-of-a-catastrophic-pandemic?commentId=sZYALMFmpxSXWWsT5
https://www.lesswrong.com/posts/KhFTCgprxSFgvxas6/what-are-the-long-term-outcomes-of-a-catastrophic-pandemic?commentId=92PEdvmLQLcA6kyTf

Given who dies from COVID-19, if the scenario suggested plays out, societies will old populations will be hit harder than those with younger populations. In developed countries this will produce a wealth transfer to the younger via the inheritance they receive (larger than otherwise because less has been spent?) Not sure that life expectancy really declines even if the numbers for the year blip down. Probably some themes we could trace out based on both the change in average population age and per capita wealth based on assuming about impact to global trade dynamics.

Comment

https://www.lesswrong.com/posts/KhFTCgprxSFgvxas6/what-are-the-long-term-outcomes-of-a-catastrophic-pandemic?commentId=9CXKJELngxtWbsaL9

In developed countries this will produce a wealth transfer to the younger via the inheritance they receive (larger than otherwise because less has been spent?)It has come to my attention that although the immediate healthcare costs would be dire and extreme, the long-term economic costs might be lower in future years. This is because if something kills a bunch of old people within a short period under tight triage, this may cost the country less money than having to treat the chronic diseases of old age. Furthermore, very old people generally contribute nothing to the world economy (besides consumption). If a higher proportion of the population is suddenly young does this imply that long-term growth actually higher?