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The legacy of covid-19 ultimately will be the vast expansion of government on many levels. Not surprisingly, the statism is worse than the virus itself.
What is known as the Austrian School of Economics started in 1871 when Carl Menger published a slender volume under the title Grundsätze der Volkswirtschaftslehre.
By making covid a political virus, progressive politicians, cheered on by their media, applied political "solutions" that failed to protect the most vulnerable people.
While the standard secular narrative is that Christianity held back science and human development, history tells a different story, one of literacy and the development of human capital.
Central BanksThe FedMonetary PolicyCapital and Interest TheoryMonetary Theory
Fed chairman Jerome Powell recently claimed they were "targeting" the "neutral" interest rate. The Fed cannot set or even know that rate, for it doesn't come from government authorities.
Economic growth depends upon human capital development, which depends upon things like cultural views toward work and just plain showing up on time.
Booms and BustsCentral BanksThe FedBusiness CyclesMoney and Banking
Central banks, and especially the Federal Reserve System, continue to churn up inflation and the boom-and-bust cycles—in the name of "stabilizing" the economy.
Money and Banks
Some blame high prices, wages, the Ukraine war, or the weak recovery. The fact is currency destruction is at the heart of generalized price rises everywhere.