What is the number of deaths due to disease which justifies the total abandonment of the rule of law and basic human freedoms? Sixty thousand? One hundred thousand? Three hundred thousand? Supporters of the current police state ought to pin down a number for us at which all rights are forfeit.
Even if the COVOID-19 virus turns out to be more severe than the skeptics give us reason to think it is, we can get through it. We cannot survive the end of the division of labor. It would be the finish of civilization as we know it.
We are about to enter a production slowdown—a collapse, really—not because some businesses miscalculated their investments, but because government intervened drastically and without warning to shut down all businesses.
The lasting and far-reaching harms caused by this authoritarian precedent far outweigh those caused by the COVID-19 virus. The American people must decide for themselves how and when to reopen society and return to their daily lives.
Current global bailouts may put off global busts for quite some time. But they will weaken output and employment gains. People's standard of living will stagnate or even fall, even in the short term. With this comes impoverishment and perhaps even social unrest.
Politicians and pundits have a blind spot when it comes to international economic transactions. They ignore a portion of trade! In particular, they ignore trade in claims on future income—that is, stocks and bonds.
What is particularly scary is that the whole argument for the new law was not really about saving lives or reducing gun violence, but is about Brussels ordering Switzerland to modify gun laws to comply with EU gun control standards.