Mises Wire

We're Learning Why Governments Can't Be Trusted with Health Crises

Health

Blog03/23/2020

The latest health crisis has made it clear that governments put their own interests before those of the public while hiding crucial information and imposing counterproductive regulations.

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Why We Need Free Markets To Fight Pandemics

Free MarketsHealthPrice ControlsPrices

Blog03/23/2020

What needs to be done in such a crisis is not to attempt to steer the market to ensure it provides what is needed, but to let it free to do what it always does: match the goals of entrepreneurial producers with the needs of the populace.

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Keynes: The Young Imperialist, 1906–13

Monetary PolicyWorld History

Blog03/21/2020

Between 1909 and 1913, Keynes was the most important defender of British monetary imperialism in India. His faithful defense of the British Empire in those early years allowed him to become the century’s most influential economist after the war.

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Coronavirus Panic: From Trillion-Dollar Paternalism to "Cash for Bunkers"

Big GovernmentHealthPrice Controls

Blog03/21/2020

You are not even allowed to ask: "Is the price we’re paying worth it?" or "Is this an abundance of caution, or an overdose?" The "serious people" attack anyone who urges calm and encourages others to adopt a "don’t panic" approach. The new party line is: panic = virtue.

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The Chinese Regime Has Made China's Woes Much Worse

Cronyism and CorporatismHealthSocialism

Blog03/21/2020

Whether we're talking public health or economic growth, the Chinese regime's love of intervention and centralization has led to one crisis after another.

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Fail: Quantitative Methods Presume That Human Action Is Reflexive

Philosophy and MethodologyPraxeology

Blog03/21/2020

Quantitative methods can't be applied to human action, which is purposeful and not a mere reflex. For this reason, mathematical formulas can only describe events, never explain them.

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A Fallacy About Negative Externalities

Philosophy and MethodologySubjectivism

Blog03/20/2020

Some people use the concept of negative externalities to argue for government to force people toward "what is best for them." An example of this is the call for a consumption tax.

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The "Bootleggers and Baptists" of the Coronavirus Crisis

HealthU.S. HistoryWorld History

Blog03/20/2020

Although it doesn't explain everything, it's always a good idea to ask "who benefits" whenever governments step in to "solve" a crisis.

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