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Bureaucracy and RegulationHealth
After weeks of bungling, faulty tests, and policy reversals the CDC bureaucrats managed to achieve some semblance of competence. But by then they were already far behind the curve.
Despite many attempts at doing so, governments have never been able to conjure up more goods and services through price controls and other regulations.
It is precisely during a crisis that private property, the price mechanism, and the profit and loss system are most important, and when the government can do the most damage.
Bureaucracy and Regulation
Proponents claim intellectual property laws are necessary to promote scientific and artistic innovation. Empirical evidence suggests the opposite is true.
The given explanations for "implied consent" to government rule would never pass muster if applied to any private-sector organization.
Philosophy and Methodology
The economist’s task is not to demonstrate (empirically) that x is associated with y, but to provide a causal explanation of how x affects y.
Booms and Busts
Whiskey production depends on investment in highly specific capital, and it requires a long time horizon. It's a textbook case of the sort of industry that's likely to suffer most in case of an economic bust.
Booms and BustsBusiness Cycles
The world now has the impossible choice of permanently reduced productivity and slower economic growth — or the mass bankruptcy of a significant percentage of the economy.