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Protectionism and Free TradeWorld History
It is thanks to global trade that we now have access to many more resources for treatment and prevention of disease, including COVID-19.
Bureaucracy and RegulationHealthPrice Controls
Thanks to regulations and a lack of private spending, Italy's healthcare system had very limited capacity even before the current crisis.
How much must total mortality increase to justify a global suspension of commerce and the rule of law? One percent? Ten percent? And what if overall mortality doesn't even go up?
Bureaucracy and RegulationHealth
Many Americans could die in the coming weeks and months thanks to the FDA’s blockade on coronavirus testing. Should we consider those victims as martyrs for the principle of bureaucratic supremacy?
It is precisely during a crisis that private property, the price mechanism, and the profit and loss system are most important, and when the government can do the most damage.
Big GovernmentGlobal Economy
Philipp Bagus reports from Spain: when people are frightened enough, they'll let the state do pretty much anything.
Protectionism and Free Trade
Protectionists think China is a geopolitical threat. I get that. But their (weak) arguments about China don't apply at all to the rest of the world.
The FedFinancial MarketsMonetary Policy
By being so dovish for so long, the Fed has greatly limited what it can do in case of recession without resorting to untried and radical solutions like negative rates.