At a time when a wide variety of misguided and wrong-headed economic ideas are swirling around the arenas of public policy, it is worth taking note of 2021 being the 150th anniversary of the founding of the Austrian School of Economics
Paul Krugman may hide behind rude and crude ad hominem attacks on those who do not share his views, but that does not prove his case. It only serves to harm his own reputation and legitimacy in the arena of public policy debate.
In spite of the declared “independence” of the Federal Reserve from the political control of either Congress or the White House, America’s central bank is a branch of the U.S. government that is responsible for setting monetary policy.
Retailers are asking customers to use credit or debit cards, and some are refusing to make change in coins. They say it’s because of the novel coronavirus. The virus may be playing a part; but, there’s more to the coin shortage.
Perhaps the most frustrating aspect of the COVID-19 pandemic is reading that non-pharmaceutical interventions like social distancing, stay-at-home orders, and business closures are saving lives. They are not.
The issue of race relations in America has reached a new high pitch with the killing of George Floyd by a Minneapolis policeman, followed by mass peaceful demonstrations and instances of violence, looting, and arson in cities around the country.
People are being forced back into a new tribalism and a new racial and ethnic collectivism in the public arena due to the renewed insistence on “group-think” that is reinforced by a variety of government policies.
Whether school closings and stay-at-home orders slow an outbreak is an important and really challenging research question. This question must be answered before we compare economic costs and health benefits.
The results of the first scientific survey of serology in a well-defined population has been conducted and – guess what? – the mortality rate for Coronavirus is not much different from that of the ordinary flu.