Daily Economy News

What Is the Macroeconomic Analog to Coronavirus Panic?

– March 29, 2020

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

– March 29, 2020

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?

– March 29, 2020

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

– March 29, 2020

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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Drugs, Suicide, and Crime: Empirical Estimates of the Human Toll of the Shutdown

– March 28, 2020

With a current US population of 331 million, there are 3,310 groups of 100,000, meaning there is potential for an additional 28,797 deaths from opioids annually. Plus alcohol abuse, suicide, and crime.

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What Does the Growing Number of Coronavirus Cases Really Mean?

– March 28, 2020

The infected are likely in the millions, but the rationing of tests prevents us from knowing the true number. In any case, that means the death rate is vastly overstated, and likely even lower than what has been typically reported for the seasonal flu.

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We Were Wrong: So Sorry that We Ruined Your Life

– March 28, 2020

Andrew Cuomo has admitted some of the error. In a much-welcome change, he has even deregulated medical services. There’s just a hint of humility and humanity embedded in these statements and actions. We need more of that, vastly more.

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Free the Entrepreneurs to Deal with the COVID-19 Crisis

– March 28, 2020

If states and – we can only hope – the federal government remove regulatory barriers that are preventing entrepreneurs from solving problems related to the COVID-19 crisis, perhaps that coming peak will not be a catastrophe and the shock to the economy will quickly become a distant memory.

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The Unthinkable Cruelty and Inhumanity of the Coerced Shutdown

– March 28, 2020

While the 350 laid off oyster workers will likely receive very little severance, along with no assurance of future employment, those in the employ of the federal government get paid for all of their time off, health benefits, seniority income gains, you name it

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Michigan Consumer Sentiment

Consumer Sentiment Fell in March with More Declines Likely

– March 27, 2020

Consumer sentiment fell sharply in March and is likely to show further declines in coming months as layoffs rise and the economy slows.

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