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What Is the Macroeconomic Analog to Coronavirus Panic?
All leaders, not just generals, tend to fight the last “war.” All readers of Hayek know why: they feel compelled to promulgate a response but lack sufficient information to make optimal decisions.
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Sanctuary Cities, Illegal Immigration, and Crime
Sanctuary cities, and by extension immigration, are once again a locus of national controversy. There may be good arguments against sanctuary cities. But we haven’t heard any yet.
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Is this the End of Globalization?
Global Supply Chains began to truncate in the aftermath of the financial crisis of 2008. The global COVID-19 lockdown has accelerated the process. Businesses will reassess the trade-off between efficiency and resilience. Supply chain resilience is not without cost.
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Coronavirus as Ideology
Even now, many people aren’t reading news or looking at data. They are confirming their biases. Our political culture has fully bled – a tsunami of blood – into one of the most essential tasks of civilization: caring for and curing the sick, and hence drowning rationality, science, and medical professionalism, and doing so at the expense of a billion lives.
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