Adam Smith and Benevolence
Buyers and sellers in the free market do indeed act from self-interest, but Adam Smith never argued that this excludes friendly feelings for those they do business with.
Buyers and sellers in the free market do indeed act from self-interest, but Adam Smith never argued that this excludes friendly feelings for those they do business with.
Hacking off soldiers' limbs was a favorite technique of Civil War surgeons, largely because doctors wanted to avoid blame for later cases of gangrene. So doctors erred on the "safe" side. Many patients may have disagreed.
With their bizarre and extreme lockdowns, governments are forcing very low-risk populations to endure social isolation and unemployment. The mental health effects will be significant.
Media outlets, both left and right, are mostly narrative driven. Also, journalists have a tendency to lazily reprint whatever "experts" say. This makes media reporting thoroughly unreliable.
Presenting "saving lives" as a more or less equal alternative to commerce and community is a misguided view of what the lockdown debate is really all about.
Jeff Deist and economist Daniel Lacalle present a special live seminar on the COVID-19 crisis and what it means for your economic future.
Gregg Gonsalves, Assistant Professor of Epidemiology at Yale University Medical School, explains what a strategy of testing and contract tracing might look like.
Crashes are fast, like that first hill on a coaster. Recoveries are not, for the simple reason that production is more difficult than destruction.
Dr. Adam Rodman, host of the podcast Bedside Rounds, sheds light on the COVID-related challenges that clinicians are now confronting.
The EU has now become essentially a makeshift, lawless regime designed to prop up bankrupt states. So much so, in fact, that even the German supreme court has become alarmed.
Why would an investor buy a bond that pays a negative interest rate? The answer lies in understanding how central banks manipulate the economy.
In this crisis the money supply has already increased far more than during the last crisis. But it's hard to say when this will produce inflation because we're still in the midst of a demand shock and a collapse in oil prices.
Prices of consumer goods have grown rather slowly in spite of sizable money supply growth. Why is there a gap?
Prices and purchasing power are determined by how individual consumers value goods and services. The "velocity of money" won't help us understand prices or the money supply.
Dr. Andrew Althouse dissects the recent news of the positive Remdesivir trial.
We've reached the end of Human Action! Tom Woods joins the podcast to discuss Part Seven, "The Place of Economics in Society," and it's a show you don't want to miss.