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Abstract: „Most countries in the world chose a more or less stringent form of lockdown policy in order to protect citizens from contagion. This essay offers a critical perspective by asking for the Netherlands whether flattening the curve does not cost more healthy life years (qaly’s) than it saves. A cost-benefit analysis is performed discussing four issues. First: how many qaly’s are actually saved by the lockdown measures? Second: what are the opportunity costs of the lockdown? This means investigating how many qaly’s could have been generated if the economic cost of the lockdown had been spent directly into health care. Third: investigating how many qaly’s are lost because of postponing regular care. And fourth: discussing how many qaly’s are at stake because of excess unemployment. While acknowledging uncertainties the conclusion seems unavoidable: lockdown has and will cost more qaly’s than it generates.“