The Bob Murphy Show

Home | Mises Library | Common Errors in Cost/Benefit Justifications of the Coronavirus Lockdowns

Common Errors in Cost/Benefit Justifications of the Coronavirus Lockdowns

  • The Bob Murphy Show

Tags Media and CultureProtectionism and Free TradeU.S. Economy

06/22/2020Robert P. Murphy

Bob explains some of the basic–but crucial–errors in the cost/benefit analyses that have been offered by economists to justify the political lockdowns issued in light of the coronavirus. Specifically, economists have conflated voluntary physical distancing with coerced lockdowns, and they are also misusing the concept of a Value of a Statistical Life (VSL).

For more information, see The Bob Murphy Show is also available on iTunes, Stitcher, Spotify, and via RSS.

Note: The views expressed on are not necessarily those of the Mises Institute.

Contact Robert P. Murphy

Robert P. Murphy is a Senior Fellow with the Mises Institute. He is the author of many books. His latest is Contra Krugman: Smashing the Errors of America's Most Famous KeynesianHis other works include Chaos Theory, Lessons for the Young Economist, and Choice: Cooperation, Enterprise, and Human Action (Independent Institute, 2015) which is a modern distillation of the essentials of Mises's thought for the layperson. Murphy is cohost, with Tom Woods, of the popular podcast Contra Krugman, which is a weekly refutation of Paul Krugman's New York Times column. He is also host of The Bob Murphy Show.

When commenting, please post a concise, civil, and informative comment. Full comment policy here
Shield icon audio