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Anatomy of the Great Suppression
The Great Suppression, a severe contraction in business activity caused by a government crackdown on capitalist acts between consenting adults, is an awful calamity. Government’s grip will be loosened once the crisis passes, but it will likely be tighter post-crisis versus pre-crisis.
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Consumer Sentiment Collapses Amid Massive Job Loss
The unprecedented economic impact of the COVID-19 outbreak is crushing the labor market and consumer sentiment.
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If the Government Doesn’t Do It, Who Will?
Governments have been providing fire protection, police services, roads, and other public services for pretty much our entire lives. Private, volunteer companies were getting the job done — until political entrepreneurs noticed a way to obtain power and resources for themselves by taking over previously-private volunteer fire departments to create patronage jobs for political allies.
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Why the Political Class Freaked Out
Politicians, including the President, try to adjust expectations about what a “good” or “bad” outcome would look like. If the outcome is bad and lots of people die they can always come out with the “good thing we did something or this would have been much worse” excuse.
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