Mises Wire

It is thanks to global trade that we now have access to many more resources for treatment and prevention of disease, including COVID-19.

The Fed's portfolio is now 35 percent larger from the time the Fed promised to "taper" back its portfolio and "normalize." It is increasingly clear that there will not be any normalization. Ever.

The Danish state believes that the nation can avoid economic collapse if the state pays private sector workers' salaries. This, it is thought, will allow private companies to avoid layoffs. But there's a downside.

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.

This year, as in 2006, the real estate industry is in denial about the state of the economy.

It is tempting to assume both money supply inflation and price inflation will come soon as the central banks pump new money. But if banks aren't lending because the economy is in disarray, the money supply may actually shrink, and prices may even fall.

Ludwig von Mises explained how "war socialism" doesn't win wars. Similarly, "COVID-19 socialism" won't win the "war" on disease.

Not only are conscripts enslaved, often under brutal conditions, they can be sent to die in battle. Mises opposed conscription, but there was an exception.

To ensure that the United States moves past this pandemic, we must minimize government infringements of civil liberties and maximize the incentives of private businesses and individuals who want to assist in our efforts to combat this “invisible enemy.”

John Maynard Keynes's supporters still insist that he was a mild and benign liberal. In truth, Keynes supported the blood-soaked Soviet regime and called himself a socialist.