“Foreigners do not treat us ‘unfairly’ if they insist on sending to us more imports in exchange for a given amount of our exports (or, what is the same thing, if they accept fewer of our exports in exchange for a given amount of what we import from them). Accusing foreigners in such a case…
“Although it’s possible to imagine bizarre scenarios in which a country’s rising trade deficits might be evidence of economic decline, none of these scenarios is realistic in the case of the United States. American trade deficits are evidence of American economic health, at least relative to many other countries, rather than of economic hardship.” ~…
“Given that one of Tyler’s most intriguing arguments in Stubborn Attachments is that we discount the value of the future far too greatly – implying that we value the present far too much relative to the future – I believe that the 2018 Tyler Cowen would be a most intriguing, perhaps even confrontational, guest of…
“People around the world, engulfed by the fear instinct, have allowed themselves to be stirred by the media – and by their political ‘leaders’ – into an hysterical terror over Covid-19. It’s too bad that Hans Rosling is not alive in 2020 to help the forces of sanity fight Covid Derangement Syndrome.” ~ Donald J.…
“What I believe is deranged is the failure to put Covid-19 in proper perspective. It is deranged to behave as if the risks that Covid poses to kindergartners, to college students, and to healthy young people are indistinguishable from the risks that Covid posed to your elderly father, or poses even to me, a 62-year-old.”…
“The economy is people – people producing, trading, cooperating, and consuming. Reasonable people disagree over what are the best policies to deal with Covid-19. But contrary to the impression conveyed by your tweet, no serious person argues for sacrificing lives to ‘the economy’ as a lifeless abstraction.” ~ Donald J. Boudreaux
“Tamping down the Covid hysteria by making available accurate information about this disease is what well-informed and public-spirited governments would do. Yet such governments are largely mythical. Real-world governments behave quite differently.” ~ Donald J. Boudreaux