Topic: Crisis

Do Economists Believe in “Magic”? No, We Believe in Markets

– April 8, 2020

The entire dismal science rests on this very, very simple insight: specialization makes our labor more productive. We could complicate this in all sorts of different ways, and that’s exactly what we do when we move from specialization to supply and demand.

Capitalism, Crisis

No, Capitalism Did Not Fail

– April 7, 2020

Riding out storms and sharing risks across billions of people is a feature, not a bug, and the affluent capitalist nature of our institutions puts us in a better position to deal with them.

Crisis

The Press Conference Trump Should Hold Now

– April 6, 2020

“I have a new campaign slogan more in keeping with my new political view of things. It is, “Make Americans Free Again.” This is an idea and an ideal truly worth fighting for and reestablishing here in the United States.”

Crisis

With Knowledge Comes Calm, Rationality, and, Possibly, Openness

– April 5, 2020

To the extent we can replace fear-based mythology, predictions, and state power with knowledge rooted in empirical realities, that is to say, actual facts, we get closer to comprehending the possibility of calm and focus on what matters.

Crisis

Unwealthy is Unhealthy, So Why Mandate It?

– April 5, 2020

Standard claims about the supposed net benefits of mandatory lockdowns, shutdowns, and shut-ins are dubious on both economic and moral grounds; as such, they’re woefully improper, even dangerous, when used to justify destructive public policymaking.

Crisis, Economic Education

The Coronavirus Pandemic Is Not Exponential

– April 5, 2020

It is farcical that people who until a few weeks ago couldn’t even spell the word “exponential” – let alone explain what it meant – ran straight across this intellectually hysterical spectrum and made the opposite mistake: drawing exponential curves until they ran out of paper or whiteboards.

Crisis

A Plan to End this Madness

– April 4, 2020

Unless our neighbors break into our houses and cough in our faces, what they do is their business, not ours. Our business is to do what we think best for ourselves and our families.

Crisis, Regulation

May this Crisis Shock Us Into Embracing Freedom

– April 4, 2020

During a crisis like the COVID-19 pandemic, certain things suddenly come into sharp focus. In this case, we are overwhelmed with examples of how regulatory barriers, restrictions, and blockages have hindered the ability of society to adapt to rapidly c …

Crisis

Why the Crisis Should Turn Everyone Into a Libertarian

– April 4, 2020

The advances authored by private investment would put even more of us in the position to at least somewhat work around the errors of politicians who, when presented with a virus, chose to destroy the jobs of millions as a response.

Crisis

Life Is Completely Different, Except for the Bureaucrats

– April 4, 2020

In these times of great uncertainty, we should be doing everything we can to make it easier for people to find and sustain work—not turning honest, hardworking people into outlaws.

Crisis, Policy, Regulation

People Adapt, Thwarting Government Plans

– April 3, 2020

If you derive no other takeaway from the political response to the ongoing COVID-19 pandemic, let it be this: human behavior adapts in real-time to ever-changing expectations of the future.

Crisis, Economic Trends

Intelligence Is Better than Panic

– April 3, 2020

AIER has become a leading voice for understanding during these times, helping to balance out the media-fueled panic that has gripped our country.