Daily Economy
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Government, Govern Thyself
“Most people seem to think that the problem with government power is that the wrong people are in office. That’s not right; the problem is that we want to rely on a physician who suffers an illness that cannot be cured.” ~ Michael Munger
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The Worst Policy Decision in American History (Video)
For the last 5 months, Americans have been bullied and punished by political elites who decided in their wisdom, to mask us, take away our jobs, depress our economic prospects, order us indoors and fine us, if we dare not comply.
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Should Dr. Fauci Be the Economic Czar?
“Much like how the response to COVID-19 requires understanding and input from a variety of perspectives, the same goes for economic policy. Dr. Fauci and public health experts like him have more than a right to voice their opinions on the economy. Whether or not we should take them seriously is another question entirely.” ~…
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Evolutionary Failure: When Mass Psychology is like a Negative Technology Shock
“This general acceptance of a fear of others that separates us from each other exacerbates all our worst proclivities and maximizes the economic destruction of the pandemic. We need to return to a robust market to preserve the division of labor. Perhaps you think this is an exaggeration, and we hope you are right, but…
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The Economic Performance of Coronavirus Sweden
“Economically, as far as we can tell, Sweden has been comparatively successful, but the projections between various economic institutions and statistics agencies still vary way too much for us to be entirely certain about this. In a year where models and forecasts have been widely off the mark, we should interpret this conservatively.” ~ Joakim…
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We Need College Sports This Fall
“The hundreds of thousands of cooperative players, vendors, restaurant and hotel owners, bartenders, waiters, waitresses, and untold millions of fans who have suffered personally, socially, and economically since March cannot bear the losses for much longer, let alone face shortened or canceled seasons. This is our chance to learn from the mistakes made with spring…
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Peter T. Leeson: A Birthday Appreciation
“Peter T. Leeson is well-positioned to continue making important and creative contributions to our beloved dismal science. His message–that free and creative people have a good track record of solving problems without anyone forcing anyone else to do anything–is as timely now as it was when he was just getting started–but I can’t really imagine…
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Effort Matters: The Pioneering Work of Anders Ericsson
“A regime of purposeful and deliberate practice has a big up-side: It cultivates resilience. Faced with a tough challenge, you know you can work through it; your experience with purposeful practice proves this to you.” ~ Barry Brownstein
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Computer Models Can’t Substitute for Real Life
“Life is NP-Hard, and attempting to express that mentation in a few lines of code is imprudent, yet in and of itself probably harmless. But bringing those projected outcomes to politicians, who have neither the inclination to be skeptical or incentives to act cautiously, is dangerous.” ~ Peter C. Earle
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Reopening Boosts Consumer Optimism, But COVID Dampens the Outlook
Consumer attitudes declined in July as resurging COVID-19 cases dampened the outlook more than reopening boosted views of current conditions.
-
•
Government, Govern Thyself
“Most people seem to think that the problem with government power is that the wrong people are in office. That’s not right; the problem is that we want to rely on a physician who suffers an illness that cannot be cured.” ~ Michael Munger
-
•
The Worst Policy Decision in American History (Video)
For the last 5 months, Americans have been bullied and punished by political elites who decided in their wisdom, to mask us, take away our jobs, depress our economic prospects, order us indoors and fine us, if we dare not comply.
-
•
Should Dr. Fauci Be the Economic Czar?
“Much like how the response to COVID-19 requires understanding and input from a variety of perspectives, the same goes for economic policy. Dr. Fauci and public health experts like him have more than a right to voice their opinions on the economy. Whether or not we should take them seriously is another question entirely.” ~…
-
•
Evolutionary Failure: When Mass Psychology is like a Negative Technology Shock
“This general acceptance of a fear of others that separates us from each other exacerbates all our worst proclivities and maximizes the economic destruction of the pandemic. We need to return to a robust market to preserve the division of labor. Perhaps you think this is an exaggeration, and we hope you are right, but…
-
•
The Economic Performance of Coronavirus Sweden
“Economically, as far as we can tell, Sweden has been comparatively successful, but the projections between various economic institutions and statistics agencies still vary way too much for us to be entirely certain about this. In a year where models and forecasts have been widely off the mark, we should interpret this conservatively.” ~ Joakim…
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•
We Need College Sports This Fall
“The hundreds of thousands of cooperative players, vendors, restaurant and hotel owners, bartenders, waiters, waitresses, and untold millions of fans who have suffered personally, socially, and economically since March cannot bear the losses for much longer, let alone face shortened or canceled seasons. This is our chance to learn from the mistakes made with spring…
-
•
Peter T. Leeson: A Birthday Appreciation
“Peter T. Leeson is well-positioned to continue making important and creative contributions to our beloved dismal science. His message–that free and creative people have a good track record of solving problems without anyone forcing anyone else to do anything–is as timely now as it was when he was just getting started–but I can’t really imagine…
-
•
Effort Matters: The Pioneering Work of Anders Ericsson
“A regime of purposeful and deliberate practice has a big up-side: It cultivates resilience. Faced with a tough challenge, you know you can work through it; your experience with purposeful practice proves this to you.” ~ Barry Brownstein
-
•
Computer Models Can’t Substitute for Real Life
“Life is NP-Hard, and attempting to express that mentation in a few lines of code is imprudent, yet in and of itself probably harmless. But bringing those projected outcomes to politicians, who have neither the inclination to be skeptical or incentives to act cautiously, is dangerous.” ~ Peter C. Earle
-
•
Reopening Boosts Consumer Optimism, But COVID Dampens the Outlook
Consumer attitudes declined in July as resurging COVID-19 cases dampened the outlook more than reopening boosted views of current conditions.