Has the definition of “liberal” changed over time? One of the more compelling debates in American intellectual circles concerns classical liberalism vs modern liberalism. In American parlance, the word liberal is used reflexively, often without much deep thought about...
The most famous Austrian economist is 1974 Nobel laureate Friedrich Hayek. Because of his moderate views excusing state interventions in various circumstances, hardcore Rothbardians tend to regard Hayek as less than pure in many areas. However, one area where Hayek is...
Free-market capitalism is the most successful economic system in history, as it has brought unprecedented prosperity and powered vast improvements in all aspects of human well-being. However, in spite of capitalism’s success, the application of economic ideas to...
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At an April 23 press conference, Gov. Andrew Cuomo sounded indignant when a reporter asked if anyone had objected to New York’s policy of forcing nursing homes to admit recently discharged COVID-19 patients. “They don’t have the right to object,” Cuomo answered before...
Back on March 19th, 2020, I pointed to this piece by Pierre-Olivier Gourinchas at my blog – Coordination Problem — where he states very clearly the reality constraint in public policy deliberations in the current coronavirus crisis. Without committing one way or...
Sunday was the 75th anniversary of the death of Franklin Roosevelt. Roosevelt was sainted by the media even before he died in 1945. CNN last week trumpeted FDR as “the wartime president who Trump should learn from.” A 2019 survey of historians ranked FDR as the third...
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...
