By Richard M. Ebeling The coronavirus crisis that has enveloped the world has brought about calls for society and economy-wide action on the part of governments that has been matched by the imposing of radical shutdowns and compulsory mass quarantining as tens of millions of people are told to not to go to work and to stay at home instead. Governments have also been … [Read more...] about What Comes After the Coronavirus, Freedom or Despotism?
By Richard M. Ebeling The world has rapidly moved into a seemingly aggressive paternalistic planning mode in the face of the Coronavirus crisis. Many voices are heard to say that personal and economic liberties must be restricted or even temporarily banned. At the same time, many of those same voices are saying that at a moment like this government spending, for all intents … [Read more...] about Leaving People Alone Is the Best Way to Beat the Coronavirus
By Richard M. Ebeling One of the great fallacies arrogantly believed in by those in political power is the notion that they can know enough to manage and command the lives of everyone in society with better results than if people are left to live their own lives as they freely choose. The fact is, there is far more in the world that successfully manages and “regulates” … [Read more...] about The Miracle of the Free Market
By Richard M. Ebeling Social and economic crises, real and imagined, often seem to bring out the most wrongheaded thinking in matters of government policy. Following the 2008 financial crisis and with the fear of “global warming,” there has been a revival in the case for “democratic” socialism. But now its proponents are “out of the closet” with a clear cut and explicit call … [Read more...] about The Case for a Coercive Green New Deal?
By Richard M. Ebeling It seems that every generation or two, fundamental economic ideas are questioned and challenged. The reasonable and important idea that governments should balance their budgets on an annual basis was challenged in the 1930s by the rise of Keynesian Economics and the counter-argument that deficit spending was desirable, if it was used to maintain full … [Read more...] about Debt, Deficits and the Cost of Free Lunches