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Dr. Philipp Bagus on the Political Economy of Mass Hysteria

The Human Action Podcast

Tags Big GovernmentBureaucracy and RegulationHealthPolitical Theory

02/26/2021Jeff DeistPhilipp Bagus

Normally we discuss books on The Human Action Podcast, but this new academic paper by Professor Philipp Bagus is too important to ignore. "COVID-19 and the Political Economy of Mass Hysteria" is the one journal article you need to read this year. In only about ten pages it makes the devastating case that perverse political incentives—along with a nexus of state-connected media and scientists—combine to create and amplify "public health" hysteria. Echoing Hoppe and public choice theory, Bagus explains how politicians enjoy asymmetric rewards for exaggerating risks and creating fear. The result is gross policy errors we will all pay for over many decades. Don't miss this show!

Read Dr. Bagus's paper at Mises.org/BagusPaper

And read Jeff Deist's summary of the paper at Mises.org/DeistBagus

Find Deep Freeze: Iceland's Economic Collapse online at Mises.org/DeepFreeze

Find The Tragedy of the Euro​ online at Mises.org/TragedyEuro

 

 

Note: The views expressed on Mises.org are not necessarily those of the Mises Institute.
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Contact Jeff Deist

Jeff Deist is president of the Mises Institute. He previously worked as chief of staff to Congressman Ron Paul, and as an attorney for private equity clients. Contact: email; Twitter.

Contact Philipp Bagus

Philipp Bagus is professor at Universidad Rey Juan Carlos. He is a Fellow of the Mises Institute, an IREF scholar, and the author of numerous books including In Defense of Deflation and The Tragedy of the Euro, and is coauthor of Blind Robbery!, Small States. Big Possibilities.: Small States Are Simply Better!, and Deep Freeze: Iceland's Economic Collapse.

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