Topic: Crisis

Authoritarianism, Crisis, Economic Education

The Use of Knowledge in a Pandemic

– August 4, 2020

“As Hayek reminded us, ‘We need decentralization because only thus can we ensure that the knowledge of the particular circumstances of time and place will be promptly used’ (p. 524). We’ve been here before. You are more of an expert than you might think.” ~ Jonathan Newman & Anthony Gill

Crisis, Healthcare, Regulation

My Covid Cri de Cœur

– August 3, 2020

“I cannot explain why the public reacts rationally – that is, without much concern – to news of famous young people testing positive for COVID but, to other news about COVID, reacts irrationally. This discrepancy itself only causes me to worry further about our ability, or willingness, to put COVID in proper perspective in order to restore some semblance of civilized modern life.” ~ Donald J. Boudreaux

Crisis, History

Is Immunity a Case of Rothbard’s Lost Knowledge?

– August 2, 2020

“Murray Rothbard right now would surely be astonished at how medical ignorance, fake science, and the lust for power all combined so suddenly to create the greatest global crisis in modern history for the cause of liberty to which he devoted his life.” ~ Jeffrey Tucker

Crisis, Economic Trends, Public Choice and Public Policy

Longer Lockdowns Associated with Much Worse Economic Outcomes

– August 1, 2020

“It’s obvious that if you restrict and ban certain businesses, they will suffer for it. Some business owners who made it through the first wave of lockdowns are saying their businesses won’t be able to survive another. This isn’t rocket science.” ~Abigail Devereaux

Central Banking, Crisis, Monetary Policy

Inflation, Credit Allocation, and the Fed

– July 31, 2020

“At the behest of Congress, the Fed has opened new facilities far afield of its traditional mandate. There is still some risk that the Fed will lose control and inflation will get out of hand. But there is a much bigger risk that the Fed will misallocate credit, reducing long run economic growth in the process.” ~ James L. Caton

Crisis, Economic Trends

The Virus Doesn’t Care about Your Policies

– July 31, 2020

“If there is a broad-based research study using real data that demonstrates something life-saving about destroying rights and liberties in the name of virus control, I’ve yet to see it. Meanwhile, we are overwhelmed with evidence that it was all pointlessly destructive.” ~ Jeffrey Tucker

Authoritarianism, Crisis, Policy

Government, Govern Thyself

– July 30, 2020

“Most people seem to think that the problem with government power is that the wrong people are in office. That’s not right; the problem is that we want to rely on a physician who suffers an illness that cannot be cured.” ~ Michael Munger

Crisis, Video

The Worst Policy Decision in American History (Video)

– July 30, 2020

For the last 5 months, Americans have been bullied and punished by political elites who decided in their wisdom, to mask us, take away our jobs, depress our economic prospects, order us indoors and fine us, if we dare not comply.

Authoritarianism, Crisis, Economic Education

Should Dr. Fauci Be the Economic Czar?

– July 30, 2020

“Much like how the response to COVID-19 requires understanding and input from a variety of perspectives, the same goes for economic policy. Dr. Fauci and public health experts like him have more than a right to voice their opinions on the economy. Whether or not we should take them seriously is another question entirely.” ~ Ethan Yang

Authoritarianism, Crisis, Economic Education, Public Choice and Public Policy

Evolutionary Failure: When Mass Psychology is like a Negative Technology Shock

– July 30, 2020

“This general acceptance of a fear of others that separates us from each other exacerbates all our worst proclivities and maximizes the economic destruction of the pandemic. We need to return to a robust market to preserve the division of labor. Perhaps you think this is an exaggeration, and we hope you are right, but we also hope you will join us in asking for some moderation in the panic around the new virus.” Diana & Michael Thomas

Central Banking, Crisis, Monetary Policy

The Federal Reserve Is Both Too Politicized and Too Powerful

– July 30, 2020

“If we don’t want history to remember COVID-19 as the event that cemented political control over monetary policy, we need to act soon. The Fed’s emergency programs must be halted and eventually retired; its balance sheet must shrink to pre-crisis levels; and Congress must cease directing the Fed to engage in fiscal policy, even amidst extraordinary economic turmoil.” ~ Alexander W. Salter

Crisis, Economic Trends, Free Markets

The Economic Performance of Coronavirus Sweden

– July 29, 2020

“Economically, as far as we can tell, Sweden has been comparatively successful, but the projections between various economic institutions and statistics agencies still vary way too much for us to be entirely certain about this. In a year where models and forecasts have been widely off the mark, we should interpret this conservatively.” ~ Joakim Book