GURU CORNER
Ludwig von Mises explained how "war socialism" doesn't win wars. Similarly, "COVID-19 socialism" won't win the "war" on disease.
How much must total mortality increase to justify a global suspension of commerce and the rule of law? One percent? Ten percent? And what if overall mortality doesn't even go up?
Medical experts have tunnel vision when it comes to disease and public policy, and they greatly overestimate their own abilities to anticipate unintended costs and consequences.
There is a misconception among critics of the COVID-19 lockdowns that they're being imposed over the howls of the local population, which wants freedom. If only that were true.
The nonaggression principle—"anything peaceful"—comes as close to a value-free analysis in a political, ethical, economic, and legal theory as conceivably possible. It was insufficient for Rothbard, because he rightly found it insufficient for liberty.
What we can learn from the Patriot Act is that during a time of crisis governments can pass legislation that impacts citizens’ lives long after the crisis of the day has passed.
Noneconomists struggle to realize that scarcity results in the necessity of tradeoffs. During the COVID-19 pandemic, this difference in thinking causes them to wrongly accuse economists of "prioritizing money over lives."
The choice at present appears to be bold freedom or bold tyranny.
Whenever a single definite object is made the supreme end of the State…the State becomes for the time inevitably absolute.” We cannot allow combating a virus to overwhelm all other values in society.
Thanks to regulations and a lack of private spending, Italy's healthcare system had very limited capacity even before the current crisis.
Trevlig vårvecka, (soligt men blåsigt och i kallaste laget). Men nu jobbar tiden för bättre väder.
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