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Some business owners who made it through the first wave of lockdowns are saying their businesses won’t be able to survive another. This isn’t rocket science.” ~Abigail Devereaux Abigail Devereaux – August 1, 2020 Technology , Video Tech Giants: Friends or Enemies? (Video) The trouble with the tech giants is not their size, I argued in this appearance, on BBC World News, but their treatment of customer privacy and collusion with political forces for their own gain. A free market needs big business, but those business nee … Edward Peter Stringham – July 31, 2020 Healthcare How Did Spending on Health Care Plunge During a Pandemic? It may seem odd that health care spending could plunge during a pandemic, but the health care industry was subject to the same closure mandates as other industries; the results were also the same. Robert Hughes – July 31, 2020 Central Banking , Gold Standard , Monetary Policy Long-Discredited Positions on the Monetary System “Considering the evidence, it appears to be Mr. Rattner, rather than Ms. Shelton, who holds “long-discredited positions on the monetary system.” Historical bank failures and crises, particularly during the Great Depression, are generally attributable to interference by regulators and central bankers, not to the gold standard.” ~ Thomas L. Hogan Thomas L. Hogan – July 31, 2020 Central Banking , Crisis , Monetary Policy Inflation, Credit Allocation, and the Fed “At the behest of Congress, the Fed has opened new facilities far afield of its traditional mandate. There is still some risk that the Fed will lose control and inflation will get out of hand. But there is a much bigger risk that the Fed will misallocate credit, reducing long run economic growth in the process.” ~ James L. Caton James L. Caton – July 31, 2020 History , Policy How FDR Killed Federal Anti-Lynching Legislation “Roosevelt’s wife Eleanor publicly signaled her support for the measure, but the president himself remained silent and declined to spend his political capital on securing the bill at a time when the legislative success of the New Deal economic agenda depended on southern Democrats. After a complex succession of parliamentary maneuvers in the Senate the measure was effectively sidelined in exchange for the southerners dropping their filibuster, which had also unintentionally impeded the New Deal farm relief bill at the top of the president’s legislative agenda.” ~ Phillip W. Magness Phillip W. Magness – July 31, 2020 Crisis , Economic Trends The Virus Doesn’t Care about Your Policies “If there is a broad-based research study using real data that demonstrates something life-saving about destroying rights and liberties in the name of virus control, I’ve yet to see it. Meanwhile, we are overwhelmed with evidence that it was all pointlessly destructive.” ~ Jeffrey Tucker Jeffrey A. Tucker – July 31, 2020 Business-Cycle Conditions Initial Claims for Unemployment Benefits Suggest Labor Market Recovery is Faltering Initial claims for unemployment benefits rose again, suggesting the emerging recovery may be at risk. Robert Hughes – July 30, 2020 Business-Cycle Conditions U.S. Economy Posts Record Decline During Lockdowns The U.S. economy suffered a historic contraction in the second quarter. Uncertainty, confusion, and risk aversion among consumers and businesses may put the recovery at risk. Robert Hughes – July 30, 2020 Authoritarianism , Crisis , Policy Government, Govern Thyself “Most people seem to think that the problem with government power is that the wrong people are in office. That’s not right; the problem is that we want to rely on a physician who suffers an illness that cannot be cured.” ~ Michael Munger Michael Munger – July 30, 2020 Crisis , Video The Worst Policy Decision in American History (Video) For the last 5 months, Americans have been bullied and punished by political elites who decided in their wisdom, to mask us, take away our jobs, depress our economic prospects, order us indoors and fine us, if we dare not comply. Taleed Brown – July 30, 2020 Authoritarianism , Crisis , Economic Education Should Dr. Fauci Be the Economic Czar? “Much like how the response to COVID-19 requires understanding and input from a variety of perspectives, the same goes for economic policy. Dr. Fauci and public health experts like him have more than a right to voice their opinions on the economy. Whether or not we should take them seriously is another question entirely.” ~ Ethan Yang Ethan Yang – July 30, 2020 Authoritarianism , Crisis , Economic Education Evolutionary Failure: When Mass Psychology is like a Negative Technology Shock “This general acceptance of a fear of others that separates us from each other exacerbates all our worst proclivities and maximizes the economic destruction of the pandemic. We need to return to a robust market to preserve the division of labor. Perhaps you think this is an exaggeration, and we hope you are right, but we also hope you will join us in asking for some moderation in the panic around the new virus.” Diana & Michael Thomas Diana W. Thomas Michael Thomas – July 30, 2020 READ MORE ARTICLES Programs Sound Money Project Research on monetary stability and financial privacy. The Bastiat Society Global network of business professionals committed to advancing free trade, individual freedom, and responsible governance. 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