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Everyday Price Index Falls Amid COVID-19 Outbreak
AIER’s Everyday Price Index fell 0.7 percent in March on a drop in motor fuel prices.
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Why Is This Texas Hospital Furloughing Nurses?
Just as the political class decided what is an essential vs nonessential business, so too have it decided what are essential and nonessential medical treatments. As a result, people who could be undergoing needed treatment are sitting at home under house arrest, while nurses who normally have busy jobs are also at home.
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The Virtues of Fiscal Discipline
Deficits used to be temporary affairs racked up in exceptional periods as the result of shocks, and paid down with surpluses. Despite years of decent economic growth, public debts in most western countries remain at high levels relative to GDP. Consequently, capacity to respond to crisis – such as natural disasters, wars and the one we are facing now – through borrowing is considerably reduced.
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Capitalism Is Still Working, Thank Goodness
Economists rarely get to run field experiments for the whole economy. And thank goodness for that, because field experiments can be very damaging. But the coronavirus that every American has been dealing with for the last month has given us as close to a field experiment as we’re ever likely to get.
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The 100-Day Disaster that Befell America
It took only 100 days to asphyxiate the world economy and the suggestion of possible sickness to render a nation once characterized by rugged individualism, personal liberty, bravery and industry into house-bound milksops.
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