“The real problem is epistemic: who is to decide what is normal, mild, moderate, or severe pandemic? Leave that decision to politicians and bureaucrats, and you have a problem. They do not know, and, as we’ve seen, immediately adopt the most extreme measures and go beyond them.” ~ Edward Peter Stringham
Manufacturers’ new orders tumbled in April on broad-based declines but as government restrictions are eased, signs of healing are likely to emerge.
Massive layoffs continue but the trend has been slowing for eight consecutive weeks.
“All you nail-biting lockdown lovers can’t have it both ways. You can’t demand strict sheltering-in-place while also lamenting soaring billionaire net worth; that is, unless you think you could have easily quarantined in 2000. In which case you’re not just self-righteous, you’re also dishonest.” ~ John Tamny
“The World of Warcraft Corrupted Blood outbreak (2005) is only an accurate simulation of how fantasy game players respond to a virtual epidemic.”~Peter C. Earle
“The Fed has again taken unprecedented action to respond to a crisis. Unfortunately, it has gone further towards erasing the separating monetary and fiscal policy, to the detriment of both.” ~ Scott Burns
“Was this a mistake? Yes. It’s time to admit it. There ought to be acts of contrition from the political class and the modelers who advised them, in which they loudly and earnestly declare that they are heartily sorry for their sins, mea culpa, mea maxima culpa.” ~ Jeffrey Tucker
With the air cleared and those who initiated the Great Suppression that created a Say’s Mismatch duly chastened, or chased out of office, America’s innovators might have enough confidence to match new consumer demands with new investments in new products designed for a post-COVID world. ~ Robert Wright
These are extraordinary times of activity and growth for the American Institute for Economic Research. AIER was founded in 1933, a time of crisis for the United States, in order to bring calm, research, and intelligence to understanding the world around us. This continues to be our focus today.
“Coronavirus has exposed the fault line between those who are subsidized by government and those who pay for government. The people who live off the government, either directly or indirectly, have relatively comfortable lives – all financed by the people who deal with much greater levels of hardship and uncertainty.” ~ Dan Mitchell
“How a casual reference to a common and widespread conceptual tool from economics can be contorted into a conspiratorial design for malice by persons who present themselves as intellectual elites but lack familiarity with the subjects of their frenzied imaginations.” ~ Phil Magness
“If there is a chance to not only pull society away from the social and economic abyss towards which it is moving, but return it to a path more in the direction of personal liberty, economic freedom, and equal individual rights under partial rule of law and constitutionally limited government, it requires resisting the pessimism that all is lost and irreversible, and having the courage and willingness to try to restore the free society.” ~ Richard Ebeling
“If you have any doubt that the main push for the lockdown was less about therapy than models, inspired by the fantasies of a computer scientist rather than a genuine expert in viruses, a social experiment conducted with disregard for freedom and the rule of law, a wild and foolhardy central plan hatched without regard to experience or serious medical science, this email chain as passionate demand to implement the 2007 CDC blueprint is the proof.” ~ Jeffrey Tucker