Daily Economy
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A Government That Does Everything Can’t Do Anything Well
The often-prescient Tyler Cowen commented not long ago that libertarianism, if it is to grow as a political movement, should embrace arguments for expanding state capacity in some areas. He named this approach “State Capacity Libertarianism” (SCL). I’m not sure you have to go that far, accepting a version of libertarianism that also takes the…
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Bounty Hunters and Privateers in The Mandalorian
Even if we had put bounties of billions on the heads of Osama bin Laden and his henchmen, we likely could have gotten a similar result at a much lower cost than the trillions we have spent on war since 9/11/01. I suspect there would have been a lot less collateral damage.
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Leviathan and Crises
And as power expands in a ratcheting-upward way, power becomes ever-more valuable and intoxicating to possess – meaning that competition to grab power becomes ever-more intense. This increasingly intense competition for power, in turn, selects those persons who are both most hungry for power and least bound by ethical restraints in pursuing and using it.
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What Is the Macroeconomic Analog to Coronavirus Panic?
All leaders, not just generals, tend to fight the last “war.” All readers of Hayek know why: they feel compelled to promulgate a response but lack sufficient information to make optimal decisions.
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Sanctuary Cities, Illegal Immigration, and Crime
Sanctuary cities, and by extension immigration, are once again a locus of national controversy. There may be good arguments against sanctuary cities. But we haven’t heard any yet.
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Is this the End of Globalization?
Global Supply Chains began to truncate in the aftermath of the financial crisis of 2008. The global COVID-19 lockdown has accelerated the process. Businesses will reassess the trade-off between efficiency and resilience. Supply chain resilience is not without cost.
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Coronavirus as Ideology
Even now, many people aren’t reading news or looking at data. They are confirming their biases. Our political culture has fully bled – a tsunami of blood – into one of the most essential tasks of civilization: caring for and curing the sick, and hence drowning rationality, science, and medical professionalism, and doing so at…
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Drugs, Suicide, and Crime: Empirical Estimates of the Human Toll of the Shutdown
With a current US population of 331 million, there are 3,310 groups of 100,000, meaning there is potential for an additional 28,797 deaths from opioids annually. Plus alcohol abuse, suicide, and crime.
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What Does the Growing Number of Coronavirus Cases Really Mean?
The infected are likely in the millions, but the rationing of tests prevents us from knowing the true number. In any case, that means the death rate is vastly overstated, and likely even lower than what has been typically reported for the seasonal flu.
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We Were Wrong: So Sorry that We Ruined Your Life
Andrew Cuomo has admitted some of the error. In a much-welcome change, he has even deregulated medical services. There’s just a hint of humility and humanity embedded in these statements and actions. We need more of that, vastly more.
-
•
A Government That Does Everything Can’t Do Anything Well
The often-prescient Tyler Cowen commented not long ago that libertarianism, if it is to grow as a political movement, should embrace arguments for expanding state capacity in some areas. He named this approach “State Capacity Libertarianism” (SCL). I’m not sure you have to go that far, accepting a version of libertarianism that also takes the…
-
•
Bounty Hunters and Privateers in The Mandalorian
Even if we had put bounties of billions on the heads of Osama bin Laden and his henchmen, we likely could have gotten a similar result at a much lower cost than the trillions we have spent on war since 9/11/01. I suspect there would have been a lot less collateral damage.
-
•
Leviathan and Crises
And as power expands in a ratcheting-upward way, power becomes ever-more valuable and intoxicating to possess – meaning that competition to grab power becomes ever-more intense. This increasingly intense competition for power, in turn, selects those persons who are both most hungry for power and least bound by ethical restraints in pursuing and using it.
-
•
What Is the Macroeconomic Analog to Coronavirus Panic?
All leaders, not just generals, tend to fight the last “war.” All readers of Hayek know why: they feel compelled to promulgate a response but lack sufficient information to make optimal decisions.
-
•
Sanctuary Cities, Illegal Immigration, and Crime
Sanctuary cities, and by extension immigration, are once again a locus of national controversy. There may be good arguments against sanctuary cities. But we haven’t heard any yet.
-
•
Is this the End of Globalization?
Global Supply Chains began to truncate in the aftermath of the financial crisis of 2008. The global COVID-19 lockdown has accelerated the process. Businesses will reassess the trade-off between efficiency and resilience. Supply chain resilience is not without cost.
-
•
Coronavirus as Ideology
Even now, many people aren’t reading news or looking at data. They are confirming their biases. Our political culture has fully bled – a tsunami of blood – into one of the most essential tasks of civilization: caring for and curing the sick, and hence drowning rationality, science, and medical professionalism, and doing so at…
-
•
Drugs, Suicide, and Crime: Empirical Estimates of the Human Toll of the Shutdown
With a current US population of 331 million, there are 3,310 groups of 100,000, meaning there is potential for an additional 28,797 deaths from opioids annually. Plus alcohol abuse, suicide, and crime.
-
•
What Does the Growing Number of Coronavirus Cases Really Mean?
The infected are likely in the millions, but the rationing of tests prevents us from knowing the true number. In any case, that means the death rate is vastly overstated, and likely even lower than what has been typically reported for the seasonal flu.
-
•
We Were Wrong: So Sorry that We Ruined Your Life
Andrew Cuomo has admitted some of the error. In a much-welcome change, he has even deregulated medical services. There’s just a hint of humility and humanity embedded in these statements and actions. We need more of that, vastly more.