Many say economics must focus on preserving resources for distant future generations. They say climate change is why. That's may seem convincing in the abstract, but we soon learn how hard it is to predict future needs, and to ignore present ones.
With a sound money, none of these distortions would have been possible: the limitations of the currency itself would have forced an unwinding of excessive risk far before it could become a clash between major hedge funds and Reddit trolls.
Surprise! An audit of Pennsylvania's covid lockdowns reveals the process lacked any legal consistency or transparency. Yet Pennsylvania's health bureaucrats have used these arbitrary rules to crush the state's entrepreneurs.
Americans have benefited mightily by holding and trading with the world’s reserve currency, though most people haven’t given it a thought. No one remembers when the pound sterling held this distinction a hundred years ago.