Coase and Covid: The Spectrum
“When we take account of the full costs of lockdowns and related mandates, including the pernicious precedents these inevitably set, it’s clear that the lowest-cost – the best – source of protection against disease such as Covid-19 is personal responsibility.” ~ Donald J. Boudreaux & Lyle D. Albaugh
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Milton Friedman and the New Attack on Freedom to Choose
“If the paternalistic policies and the ideological arrogance and intolerance behind these counterrevolutionaries against freedom and the free market fully prevail, the liberty that we still possess will be even more greatly curtailed than at present, as those who call for the ‘social responsibility’ of business restrict our remaining freedom to choose.” ~ Richard M. Ebeling
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Free to Choose After Forty Years
“Free to Choose holds up very well even after forty years. Friedman’s analysis still holds, and it’s interesting to see (for example) how the rhetoric of the opposition to educational choice hasn’t really changed. Free to Choose does more than show that freedom works. It explains why, and it does so memorably.” ~ Art Carden
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An Avalanche of Failure
“When the feedback mechanism of personal interaction is overruled by a grand scheme, even if it is noble and (seemingly) virtuous, there can be strong negative results that cause the central planner to double, triple, or quadruple down on his failed scheme, resulting in even more problems.” ~ Jon Murphy
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Why Principles Still Matter in a Pandemic
“A healthy and prosperous society is not guaranteed by the size of its wealth, the capabilities of its technology, or the perceived intelligence of its experts. Rather it is upheld by the promulgation of ideas. Ideas rooted in free enterprise, limited government, individual dignity, and the rule of law. America, the most powerful polity in human history, brought itself to its knees by turning on these proven principles in the midst of a pandemic that freer countries handled far better.” ~ Ethan Yang
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Be Serious, You Don’t Solve Lockdowns With More Central Planning
“Stated simply, the economy is weak because politicians imposed command-and-control lockdowns, and having done that, they poured gasoline on a fire of their own making with trillions more in spending. Let’s not vandalize common sense with more of what’s already failed. The only economic relief is an end to the lockdowns.” ~ John Tamny
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A Comment on the New History of Capitalism
“Much of the current debate revolves around an emergent historiographical school. Usually referred to as the ‘New History of Capitalism’ (NHC), this school has produced a sizable body of research contending that the institution of slavery was a central building block of American capitalism. At the same time however, the NHC literature has come under intense criticism from economic historians who have long studied the same subject, and who question both its use of evidence and its conclusions.” ~ Phillip W. Magness
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New Jersey’s Transaction Tax Grab
“The way in which political figures view financial markets are a litmus test for their overall understanding of economics.” ~ Peter C. Earle
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What’s the Right Mix of Money and Drugs for Your Employees?
“There isn’t a ‘right’ combination of wages, benefits, and other perquisites, and the pattern of things that ‘work’ for people is not planned by a central authority. It emerges from trial and error in the market.” ~ Art Carden
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NASA is Paying for Moon Rocks. The Implications for Space Commerce are Huge
“In ancient times, mankind extended the division of labor across tribes, turning enemies into friends. Later came trade across national boundaries, with similar largely peaceful effects. Now, humans are prepared to extend it still further: into the final frontier. Doux commerce is coming to the stars. NASA just made a ‘giant leap for mankind.’ Everyone who cares about human wealth and welfare should heartily thank them.” ~ Alexander W. Salter & David R. Henderson
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Yes, 2021 Could Be Worse
“Buck up, buckaroos, because 2021 is just a cultural construct anyway. The world will improve not on an arbitrary day but when you all decide to make it a better place.” ~ Robert E. Wright
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Deeply Impacting the Economy
“When the world suddenly changes, we want an economic system that adjusts and reflects our updated knowledge and desires. That requires prices to move, quantities to change, bankruptcies to occur and a whole lot of profiteering – whether in our world or in fictional worlds.” ~ Joakim Book
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