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My intrepid Mercatus Center colleague Veronique de Rugy bravely stood her ground during a recent meeting of rent-seeking interests:

At the public meeting, the EXIM Board heard from a variety of external stakeholders with diverse views on PEFCO’s future. Veronique de Rugy expressed her concern with renewing EXIM’s partnership with PEFCO, stating, “In light of the current economic crisis some may feel that the now is not the time to reconsider or even reform PEFCO. But not even the most pessimistic economic scenarios contemplate that the current crisis will last 25 years. Assuming that the liquidity argument holds, if the guarantee agreement between EX-IM and PEFCO is renewed again, it should be renewed for only one year, at the end of which the need for or appropriate role of PEFCO should be revisited in light of prevailing economic conditions.”

Scott Sumner explains that consumption is not production.

Steve Horwitz reviews Janek Wasserman’s The Marginal Revolutionaries.

Tyler Cowen wonders why the T-cell immune response didn’t bark.

James Altucher worries that NYC is dead. (HT Manny Klausner) A slice:

NYC has never been locked down for five months. Not in any pandemic, war, financial crisis, never. In the middle of the polio epidemic, when little kids (including my mother) were becoming paralyzed or dying (my mother ended up with a bad leg), NYC didn’t go through this.

This is not to say what should have been done or should not have been done. That part is over. Now we have to deal with what IS.

Hans Bader isn’t buying the media’s claim that Kamala Harris is “moderate.”

Jeffrey Tucker continues to write wisely about the covid lockdowns.

Arnold Kling briefly assesses other ideological tribes.

Speaking of Kamala Harris, George Will ponders her campaign-trail criticism of Joe Biden’s opposition to bussing.

Citing Trump’s treatment of TikTok, the great Bruce Yandle describes the rise of “gatekeeper capitalism” – and the dimness this development casts on Americans’ future.