Posted in American Presidents, Bailouts, big government, Dependency, Disease Prevention, Economic Issues, Government Regulations, Government Spending, Government Stimulus, Leadership, Organizational structure, outcomes measurement, Patient Safety, Policy Issues, Poverty, Prevention, Representative Republic vs. Democracy, Rule of Law, U.S. Constitution, Uncategorized, Unemployment

Coronavirus and Federalism | International Liberty

John Daniel Davidson of the Federalist echoes the benefits of having choices made at the state and local level.

The founders wisely chose a federal republic for our form of government, which means sovereignty is divided between states and the federal government. The powers of the federal government are limited and enumerated, while all powers not granted to the feds are reserved for the states, including emergency police powers of the kind we’re seeing states and localities use now. …Much of the media seems wholly unaware of this basic feature of our system of government. …Trump explained that many governors might have a more direct line on this equipment and if so they should go ahead and acquire it themselves, no need to wait on Washington, D.C. This is of course exactly the way federalism is supposed to work. …We should expect the government power that’s closest to affected communities to be the most active, while Washington, D.C., concern itself with larger problems.

Source: Coronavirus and Federalism | International Liberty

Posted in Bailouts, Disease Prevention, Economic Issues, Education, Free Society, Government Regulations, Leadership, Liberty, outcomes measurement, Patient Safety, Philosophy, Poverty, Prevention, Protocols, Rule of Law, U.S. Constitution, Uncategorized, Unemployment, Uninsured

How Shutting Down The Economy Could Kill Tens Of Thousands | The Federalist

“The economy is the people, and the people are the economy. The ability to continue to function in a market system does matter to individuals within the system, particularly when the ability of business to remain open and continue to employ them is in question.”

Source: How Shutting Down The Economy Could Kill Tens Of Thousands

Posted in Bailouts, big government, Caricatures, Cartoons, Crony Capitalism, Dependency, Economic Issues, government incompetence, News From Washington, News From Washington, DC & Related Shenanigans, Policy Issues, Uncategorized

Stimulus Package Projected To Save The Lives Of At Least 85,000 Government Programs | The Babylon Bee

Thanks to the leadership of Washington, Americans everywhere are learning to appreciate the infinite worth of every lawmaker’s pet project.

Some other programs and studies that are being saved include the following:

  • The End Violence Against Earthworms Foundation
  • Mothers Against Kombucha
  • Mothers For Kombucha
  • Research into creating left-handed forks
  • $100 million for Charlie’s Angels 2: You’d Better Watch This One or We Will Call You Sexist a Second Time
  • Research into recaffeinating decaffeinated coffee beans
  • The Foundation for Preserving Foundations Foundation

https://babylonbee.com/news/stimulus-bill-projected-to-save-the-lives-of-at-least-85000-government-programs

Posted in Bailouts, Dependency, Economic Issues, Entrepreneurs, Free Society, Free-Market, government incompetence, Government Regulations, Government Spending, Government Stimulus, Job loss, Keynesian Economics, Liberty, Organizational structure, Philosophy, Policy Issues, Uncategorized, Unemployment

Focus on People During Economic Crises, Not Macro-Statistics – Foundation for Economic Education

By Mark Hornshaw

“Economics studies human choice under scarcity. Humans must act in the present to provide for the future. Informed choice relies on market data in the form of prices—specific prices for specific things, as we assess various different means to satisfy our ends—that is what economics is about.

Macro-statistics such as GDP and CPI, whether they are rising or falling in the aggregate, do not help much with this vital task. These statistics are compilations of vast amounts of data to come up with averages across entire countries and time-periods. It’s a dilution of the data, not an enhancement.

“What a country wants to make it richer, is never consumption, but production. Where there is the latter, we may be sure that there is no want of the former,” said John Stuart Mill, citing Say’s law.

In a tune of rapid change and disruption, we need prices to do their job more than ever so the entrepreneurial process can work. High prices show which industries to move more resources into, and low prices show which ones to move resources out of to free them up for more urgent uses. From the point of view of consumers, high prices show us what we should cut back on, and low prices show where we can pick up bargains.

This process takes time. Interfering with this process just locks in shortages and surpluses.
So-called “stimulus,” just thrown at “the economy” to increase “aggregate demand” in the abstract, cannot work, when there are supply constraints in some industries and prohibitions in others.

Government policy should be on mending holes in the social safety net, compensating those it has forced out of business and jobs, and reducing the tax and regulatory burden it places on businesses, workers and consumers as they try to adjust.

These are all microeconomic responses to relieve suffering and remove impediments.”

https://fee.org/articles/focus-on-people-during-economic-crises-not-macro-statistics/

Posted in Bailouts, Currency Manipulation, Dependency, Economic Issues, Federal Reserve, Government Regulations, Government Spending, Interest on the Debt, Keynesian Economics, Policy Issues, Tax Policy, Uncategorized

Economic Lessons from Coronavirus: Government-Subsidized Private Debt Creates Macro Vulnerability | International Liberty

Little more than a decade after consumers binged on inexpensive mortgages that helped bring on a global financial crisis, a new debt surge — this time by major corporations — threatens to unleash fresh turmoil.

The root cause of the debt boom is the decision by the Federal Reserve and other key central banks to cut interest rates to zero in the wake of the financial crisis and to hold them at historic lows for years.

https://danieljmitchell.wordpress.com/2020/03/20/economic-lessons-from-coronavirus-government-subsidized-private-debt-creates-macro-vulnerability/

Posted in Bailouts, big government, Dependency, Economic Issues, Free Society, government incompetence, Influence peddling, Keynesian Economics, Leadership, Liberty, Organizational structure, outcomes, outcomes measurement, Philosophy, Policy Issues, Tax Policy, Uncategorized

Musings and Mentions

As we continue to examine the outcomes of socioeconomic initiatives throughout our history, it becomes apparent that society’s benefits are not necessarily derived from good policies as much as from the absence of bad ones.

– Robert Nelson

Posted in Bailouts, Cost of labor, Economic Issues, Federal Reserve, Free-Market, government incompetence, Government Regulations, Government Stimulus, Interest on the Debt, Interest rate manipulation, National Debt, Policy Issues, Tax Policy, U.S. Security, Uncategorized, Unemployment

The Grumpy Economist: Volalitily, now the whole thing

WONK ALERT!

And now for the meaty post of the week! Seriously, this is a fantastic piece by The Grump Economist, John H. Cochrane, senior fellow at The Hoover Institute.

Here’s a sneak preview:

What’s causing the big drop in the stock market, and the bout of enormous volatility we’re seeing at the end of the year?

The biggest worry is that this is The Beginning of The End — a recession is on its way, with a consequent big stock market rout. Is this early 2008 all over again, a signal of the big drop to come?

Maybe. But maybe not. Maybe it’s 2010, 2011, 2016, or the greatest of all, 1987. “The stock market forecast 9 of the last 5 recessions,” Paul Samuelson once said, and rightly. The stock market does fall in recessions, but it also corrects occasionally during expansions. Each of these drops was accompanied by similar bouts of volatility. Each is likely a period in which people worried about a recession or crash to come, but in the end it did not come.

Still, is this at last the time? A few guideposts are handy.

https://johnhcochrane.blogspot.com/2019/01/volalitily-now-whole-thing.html

Posted in Bailouts, big government, Crony Capitalism, Economic Issues, Government Spending, Influence peddling, Organizational structure, Policy Issues, Uncategorized

Academic | Search Results | International Liberty

…what happens when politicians get a windfall of revenue from a centralized source.(?)

Well, according to new research from Italy’s central bank, bigger government means more corruption.

https://danieljmitchell.wordpress.com/?s=Academic&submit=Search