Although the recommendations of the Great Barrington Declaration would be an improvement over the status quo, the declaration grants far too much power to the state to act in pursuit of an alleged "common good."
Not all increases in money supply lead to inflation. A currency fully backed by a commodity like gold does not cause inflation like an increase in unbacked fiat money does.
Because politicians have no liability for the economic damage they inflict, they have no incentive to minimize the disruptions they decree.
The fact Boris Johnson and Joe Biden are both using the phrase "build back better" is bad news. It's a phrase pioneered by groups twisting the covid-19 pandemic into a pretext for extreme “green” policies.
Growing material propserity does not require equality. In fact, equality has nothing to do with building a system that benefits workers and the poor.
In contrast to the classical cost (labor) theory of value, the so-called marginal revolution ushered in the modern, subjective theory, whereby market price is determined by the marginal utility of a good.
In Japan, huge social security expenditures have been simply monetized by the Bank of Japan at the expense of the overall welfare and the economic prospects of Japan’s youth.
Today, those with a modicum of judgment and respect for their pocketbook are heading anywhere that is not named California, attempting to flee the incompetent mismanagement of Governor Gavin Newsom.
To adopt a Rawlsian account of justice, you have to accept democratic participation in a strong sense. For Rawls, the people in a society must decide political questions together.
When the state interferes with the market in order to bring about a different use of the productive factors it can only impair the supply, it cannot improve it.
