Some Links

Tweet ^[1]

Normally I’m allergic to clever proposals of new ways for governments to act. But given all the givens, I find this proposal by Arnold Kling to be ingeniously sound ^[2].

David Henderson asks an interesting and important question – one inspired by an observation made by GMU Econ alum Michael Thomas ^[3].

Here’s more from Eric Boehm on how Trump’s tariffs punitive taxes on Americans who buy imports – punitive taxes that spring from the unfathomable lunacy and ignorance of Trump’s trade advisor Peter Navarro – are making Americans worse off during the COVID-19 crisis ^[4].

My GMU Econ colleague Alex Tabarrok reports the sad reality of the politicized use of the Defense Production Act ^[5].

Wisdom from Ilya Somin ^[6].

My intrepid Mercatus Center colleague Veronique de Rugy is understandably dismayed by the cronyism that lards the coronavirus relief bill ^[7]. A slice:

And reprising a favorite among legislators, the bill extends $150 billion in direct aid to states. Most state and local governments are incredibly irresponsible with their finances. During good times, they jack up spending rapidly as soon as they get more revenue rather than save for rainy days. This bailout, unfortunately, will only amplify the signal sent from Washington that they can continue being irresponsible because each time they encounter fiscal troubles because of their poor planning, the federal government will bail them out. Federalism isn’t supposed to work in this dysfunctional manner.

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