Topic: Crisis

Those Shelves Wouldn’t Be Empty If We Hadn’t Stopped “Capitalism”

– March 15, 2020

This is a difficult time for a lot of people, and it’s understandable and admirably humane to want to help others in their time of need. We aren’t doing them any favors, however, by saying that they won’t be allowed to pay very much for a bottle of hand sanitizer they can’t get anyway.

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Celebrate the Heroes Who Stay Open

– March 14, 2020

I smiled and said thank you to every employee stocking shelves, running the cash registers, mailing my packages, taking my dry cleaning, and selling me bleach wipes. Blessed are those who eschew the crazy demand to “shut down everything” and instead continue to serve the people.

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Stringham on Economic and Financial Stress (video)

– March 14, 2020

I’m pleased to be facing a high demand right now to get on the media and make comments on the continuing market turmoil. Here is a recent appearance on Fox.

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Government Has Only Added to Insecurity and Fear

– March 14, 2020

Coronavirus was in the news for weeks without any market correction, only for global politicians to begin inserting themselves into the process. Cascading markets ensued. Well, of course.

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The Insoluble Perils of Prediction

– March 14, 2020

Statistically, there are usually only a handful of ways that a prediction can come true – but a myriad, even infinite, ways that it can go wrong. We should almost never expect a particular prediction to hold true.

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How the US Botched Coronavirus Testing

– March 12, 2020

Highly restrictive procedures for virus testing have had the unintended consequence of shutting down tests that could detect outbreaks and save lives. Going by the book apparently mattered more than getting good results.

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AIER - Americab Institute for Economic Research

Special Note from Edward Stringham

– March 12, 2020

The good news is that this problem will pass in time, but a sound strategy right now, in addition to individual caution, is to free the markets to make the world economy less vulnerable to shocks such as this one.

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Coronavirus and a Case for Optimism

– March 12, 2020

With coronavirus fears accelerating and nations and organizations across the world grappling with how best to contain and mitigate the harm, it becomes increasingly difficult to be optimistic about the immediate future. What are the prospects for the A …

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South Korea Preserved the Open Society and Now Infection Rates are Falling

– March 12, 2020

What’s the better for dealing with pandemic disease: martial-law quarantines imposed by the state or keeping society open while trusting individuals, families, and communities to make intelligent decisions?

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Be Alarmed, But Don’t Panic

– March 12, 2020

If we realise what the real risks are and take effective action that makes use of the advantages we have compared to our ancestors then we can survive a major pandemic. If we panic, however, and do things that seem to make sense but actually make the economic and social effects worse, then the prospects are bad.

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They Are Rewriting the History of Coronavirus in Real Time

– March 11, 2020

The daily threats and warnings have spooked markets far more than the sober analysis from genuine medical professionals. Markets, non-interventionist policies, and budget cuts have between little and nothing to do with the fear now spreading.

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The Free Market Provides What We Need to Survive a Pandemic

– March 10, 2020

It is human liberty operating within a market framework that saves us in times like this. In a disease panic, we are learning, people lose their minds and stop thinking clearly about things that matter. They also reach out to authority to save them.

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