Episode 3 explores the contrasting outcomes of COVID-19 lockdowns in Brazil and Peru. Despite Peru's strict and military lockdown measures, the country suffered a high death toll and severe economic and social consequences. In contrast, Brazil's less stringent restrictions resulted in comparable or lower excess deaths. The discussion underscores Peru's challenges, including an overwhelmed health system and widespread public fear, which was worsened by limited access to essential resources like medical oxygen. The second wave amplified economic hardships for households and businesses, with lockdowns often creating more problems than solutions. The conversation suggests that adopting a broader global perspective on pandemic strategies could have led to more effective policies.