Mises Wire

Although national tragedies tend to bring a country together, it seems clear that the coronavirus will leave America as divided as it has been in modern history.

Lord Kelvin once said, “If you cannot measure it, then it is not science” and “your theory is apt to be based more upon imagination than upon knowledge.” This would certainly seem to apply to the many COVID-19 models now used to destroy human rights across the globe.

Can indifference be demonstrated in action?

The 1958 pandemic killed twice as many people as COVID-19 has so far. Yet, the economy in 2020 has collapsed far worse than either in 1958 or the far worse pandemic of 1918.

Thanks to past interventions, the economy is now rife with malinvestments and prices that don't reflect real demand. The solution is to allow deflation and other types of painful readjustment. Otherwise true growth will elude us.

Prices determined in the marketplace are absolutely essential to a functioning economic system.  This is no less true if today's property was redistributed unjustly in the past. Market prices today are the path to recovery.

Now, more than ever, we're in uncharted waters when it comes to central banks and monetary policy. Economist Brendan Brown takes a look at where we are and what the future might hold for central banks' race to the bottom.

Most of the world's regimes enthusiastically destroyed their economies and consigned millions to destitution (and a rising tide of resulting health problems) in pursuit of a trendy and unproven theory. There's still not evidence that the lockdowns worked.

With such chaos, confusion, and incompetence playing out, it is little wonder that more and more Pennsylvanians are refusing to obey lockdown decrees.

Decades of Keynesian policy have crippled the Japanese economy. Only a turn toward free markets offer a real way out.