“Nothing is easier than for intellectuals to express displeasure with the observed manner in which individuals make trade-offs, and then to assert that this manner of making trade-offs implies a market failure. But assertions are not analyses. When analyzed carefully through the lens of economics, the need for producers to adjust to changes in consumer…
“Perhaps my long discourse on ‘pecuniary externalities’ strikes the reader as ponderous or even pointless. Ponderous it probably is, but pointless it is not. If the above reality were more widely understood, many fewer people would complain about foreigners using their exports as a means of ‘stealing our jobs.'” ~ Donald J. Boudreaux
“Governments are fond of dictating maximum prices and minimum wages. To the economically ignorant, these policies appear humane and worthwhile. But when examined through the lens of economics, these policies are clearly revealed to be harmful to the very persons they are ostensibly meant to help.” ~ Donald J. Boudreaux
“Why on all matters Covid do so many otherwise sensible, appropriately skeptical, and numerate people – people who understand the necessity of trade-offs, the reality of unintended consequences, and the dangers of government power – lose their judgment and remain in the ranks of the hysterical masses who treat Covid as the existential threat that…
“The full spirit and many of the practical steps that Manne recommended to business people nearly 50 years ago as rational responses to the unwarranted hysteria over fuel shortages apply today to the unwarranted hysteria over Covid-19. Today, I recommend such resistance, and not only by business people, but by all individuals.” ~ Donald J.…