Decentralization and Privatization Haven’t Gone Far Enough in Coronavirus Testing
Federal regulation of medical tests and testing needs to be ended and left to the states. And then state authority must be broken up and decentralized even further.
Federal regulation of medical tests and testing needs to be ended and left to the states. And then state authority must be broken up and decentralized even further.
In an effort to defy Donald Trump, Andrew Cuomo, NBC, and CBS have suddenly embraced what they have long hated: state sovereignty and the extensive decentralization mandated by the Tenth Amendment.
From trade barriers to disastrous government regulations, government intervention has crippled society's ability to respond well to the spread of disease.
The Fed is, in effect, a lawless economic government unto itself. It is the lender of first resort, a kind of reverse pawnshop that pays top dollar for rapidly declining assets.
State and local government budgets are in danger of collapsing. This will impel politicians to find ways to end the lockdowns. Politicians may not care whether you have a job. But they care deeply about their government budgets and jobs for their friends.
Central bankers think too much saving is a problem that must be solved with more money creation. But the real problem is the Keynesian-style fractional reserve banking system.
Africa is in no position to bring a halt to economic activity. Urban poverty and huge debts present an apparent choice between rampant disease and mass impoverishment.
From New York to London to Brussels to Tokyo, central banks in the last two weeks have embraced a wide variety of extraordinary inflationary measures to prop up insolvent banks and governments.
It is thanks to global trade that we now have access to many more resources for treatment and prevention of disease, including COVID-19.
The coronavirus crisis has unleashed two types of bankruptcies that are very different, have different causes, and should require different solutions.