What’s more, even if one supports expanding UI during rough times, we must remember that whether the money is borrowed or taxed, this redistribution of income comes out of the real economy at the expense of other investments that are likely more valuable. This important reality looms especially large as the economy reopens, and businesses have a long road ahead just to survive.
GMU Econ alums Diana and Michael Thomas wisely warn that a people fearful of each other cannot thrive economically. Here’s their conclusion:
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 we also hope you will join us in asking for some moderation in the panic around the new virus.
Ben Zycher defends Nobel-laureate economist William Nordhaus from environmental leftists.
James Pethokoukis talks with Arthur Diamond about sustaining innovative dynamism.
