Social distancing was a crucial policy in halting the spread of COVID-19 in the absence of an effective treatment or vaccine. While knowledge on the effects of social distancing in containing the pandemic is developed, its impacts on the economy are not yet clearly understood. Alexandre Gori Maia (UNICAMP), Letícia Marteleto (UT-Austin), Cristina Rodrigues (FIPE/USP), and Luiz Gustavo Sereno (UNICAMP) analyzed the trade-offs between health and the economy during the period of social distancing in São Paulo (SP), the state hardest hit by the COVID-19 pandemic in Brazil. The authors found robust evidence for the benefits of social distancing on health indicators, while there was no evidence that municipalities with tougher social distancing performed worse economically.