The Italians could learn some lessons about healthcare from the South Koreans, who still maintain a robust private market in health insurance. Although the Koreans have relatively ample resources for COVID-19 patients, Italy's state-dominated system is quickly running out of options.
Modern monetary theory (MMT) conveniently facilitates dangerous policies and ideas that seemed unrealistic, like universal basic income and “helicopter money,” and that have been particularly propagated by government-sponsored economists for the past few years.
The last sixteen months of López Obrador's administration have been a show of incompetence, yet people continue to cling to the idea that the key to solving Mexico's problems is getting the "right people" in office.
Ludwig von Mises discusses inflation, labor unions, and issues of the adoption of improper terminology and widespread public misinformation at the Mont Pèlerin Society meeting at Princeton, New Jersey, on September 11, 1958.
Economics today poses as a predictive discipline which fails to correctly predict anything; a prescriptive discipline which prescribes the wrong policies; and an empirical discipline which collects data but misses the point.