We Can’t Just “Restart” the Economy Where We Left Off
If we're serious about maximizing the resources needed to combat COVID-19, we need an economy that is deregulated and flexible.
If we're serious about maximizing the resources needed to combat COVID-19, we need an economy that is deregulated and flexible.
Ryan McMaken and Jeff Deist tackle Part Five of Human Action, delving into Mises's brilliant and radical view on socialism.
If buyers aren't allowed to compete in terms of prices, they'll be forced to compete in terms of time waiting, distance traveled, or other real costs.
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."
Despite the fact that the CDC’s formal name includes the word “Prevention” and that its stated goals include various planning buzzwords, its managing of the COVID-19 response has been an unmitigated disaster.
The 2016 election was an important reminder that most experts were totally wrong in their predictions of what would happen. Now the experts are claiming that freedom and markets must be abandoned based on new guesses about the future.
It is a marvel that imperfect, limited information available to the entrepreneur can be used to produce so much good for society.
If you've wanted to read Human Action, this is your opportunity to hear it explained by great economists and scholars!
If you've wanted to read Human Action, this is your opportunity to hear it explained by great economists and scholars!
The economy is not primarily about the adjustment of capital investment across industries and firms, but about the determination of which industries and types of production will exist—and who will be involved in this future production.