Supply chains collapse, companies are facing bankruptcy, and mass unemployment ensues. Covid-19 has triggered a global financial crisis and is forcing states to develop rescue packages on a scale not seen before. In addition, the crisis has called into question the US dollar's hegemony and could redefine the global monetary system. A team of researchers from the Institute for … [Read more...] about How is COVID-19 Affecting the Global Economic Order?
COVID-19
Calls for Central Planning in the COVID-19 Panic Are like the Calls for the “War Socialism” of Old
By Philipp Bagus In dark hours, when people fear for their lives, they eagerly deliver their freedom to the state. Many want the government take control of their lives, because they think it will be better for them. Ludwig von Mises has written extensively about the erroneous belief that in an emergency the state must take control of the economy because the market economy … [Read more...] about Calls for Central Planning in the COVID-19 Panic Are like the Calls for the “War Socialism” of Old
Why Central Planning by Medical Experts Will Lead to Disaster
By Gary Galles A great deal of the coverage of the COVID-19 crisis has been apocalyptic. That is partly because “if it bleeds, it leads.” But it is also because some of the medical experts with media megaphones have put forward potentially catastrophic scenarios and drastic plans to deal with them, reinforced by assertions that the rest of us should “listen to the experts,” … [Read more...] about Why Central Planning by Medical Experts Will Lead to Disaster