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But why the dominant crisis-lockdown mindset at all? The foolishness of lockdowns has become all the more apparent as people think through and count up the injuries and tragedies that government coercion has inflicted. Cummins treats that too in his video. Lockdown was ill considered from the word “go,” and it was downright stupid as soon as the curve was flattened at the intensive wards, which quickly expanded anyway.
GMU Econ PhD candidate Jon Murphy decries the expert failure strewn throughout the covid calamity [3]. A slice:
In other words, these experts fall into a problem that Roger Koppl calls “siloing.” [4] These experts make decisions based upon their understanding, training, and knowledge. They do not necessarily know (or even know to consider) how their actions affect other elements of society.
GMU Econ alum Rosolino Candela explores the relevance of externalities [5].
Economic statists may cheer all this, but it sure looks to all the world like U.S. government meddling that rewarded political allies. Cfius was established to protect national security, not to be used as leverage to steer investment to certain companies.
Art Carden reports that “Free To Choose” holds up well even after 40 years. [7]
A broad reduction in tariffs made possible by the Tariff Reform Commission would deliver immediate benefits to millions of American households, invigorate the nation’s productive capacity, and increase the supply of goods critical to the fight against the novel coronavirus. As has been the case with military base closures, a commission would help Congress overcome the special interest pressure that keeps tariffs in place despite their negative impact on the overall economy and the national interest.