The political machines that run America's cities are likely to keep running them when these protests and riots end. Taxpayers will be worse off, but politicians will be even more powerful.
In the 1960s, politicians and bureaucrats had nearly unbounded faith in the ability to plan a nearly perfect society. Things didn't turn out as they had planned.
Ironically, the economic collapse in Europe has united both the poor and rich members of the EU in agreement that the EU has none of their best interests at heart. The political winds have shifted and are blowing against the EU.
It's a mistake to think freedom is protected by having the Supreme Court declare what is "constitutional," thus imposing centralized federal law on all the states.
When people are scared they let the authorities get away with all sorts of nonsense. We're seeing this with the Federal Reserve right now.
"History cannot teach us any general rule, principle, or law. There is no means to abstract from a historical experience a posteriori any theories or theorems concerning human conduct and policies."
Free the liquor stores to sell what products they want, what days of the week they want, what hours they want, and to whom they want.
GDP can be increased through both government spending and printing new money. So, naturally, once lockdowns end we'll see a big rebound in GDP. But that doesn't tell us if the private sector is actually better off.
Mises knew: “Mass unemployment destroys the moral foundations of the social order. The young people…forced to remain idle, are the ferment out of which the most radical political movements are formed."
Not all (or even most) police are needlessly violent. But it is rational to conclude, upon seeing a person in a police uniform, that this person can—if he wishes to—abuse his power with near impunity.
