Mises Wire

Hacksawing the Economy: How Lockdowns Are in the Tradition of Civil War Surgeons

Big GovernmentU.S. History

Blog05/19/2020

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.

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How Words Like "Essential" and "Need" Are Abused by Politicians

Economic FreedomSocialism

Blog05/18/2020

We live in an age when politicians decide what is "essential" and what isn't. It's a grave abuse of power and common sense.

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How Central Banks and Lockdowns Are Making the Crisis Worse

Booms and BustsInflationMonetary Policy

Blog05/16/2020

After 2018, the US economy was already headed toward a recession. But bailouts and lockdowns have made things even worse.

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How Bad Is It?

Booms and Busts

Blog05/13/2020

Crashes are fast, like that first hill on a coaster. Recoveries are not, for the simple reason that production is more difficult than destruction.

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How the COVID-19 Lockdowns Will Increase Resentment of the Elderly

Blog05/12/2020

How do the shutdowns increase ageism? Because millions have arguably been thrown out of work in the name of protecting the elderly. The resulting economic devastation comes at the expense of younger workers, parents, students, and families.

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How This Crisis Differs from the 2008–2009 Financial Crisis

Booms and BustsInflationFinancial Markets

Blog05/09/2020

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.

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How Government Spending Can Make the Debt Burden Look Smaller than It Really Is

Taxes and SpendingOther Schools of Thought

Blog05/07/2020

Governments can increase GDP numbers simply by spending more, and this can reduce debt as a percentage of GDP. But what if we calculate GDP using only private spending?

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