Why are governments so enthusiastic about shutting down businesses when other less draconian measures are available and prudent? The answer lies in the fact that governments can act with near impunity and want to maximize their power.
The 2016 election was an important reminder that most experts were totally wrong in their predictions of what would happen. Now the experts are claiming that freedom and markets must be abandoned based on new guesses about the future.
Finn Kydland and Edward C. Prescott (KP), the 2004 Nobel laureates in economics think that technological shocks can explain 70 percent of economic fluctuations in postwar US data. Unfortunately their quantitative methods are simplistic and ignore the real problem: central banking.