In most economies, inventories are valued at market prices, while in China they are valued by the authorities and adjusted later. This is just one of many ways China manipulates GDP data.
Walter Williams believed free markets provided the best way for humans—and especially people born on lower rungs of the economic ladder—to advance materially and in other ways, too.
Dr. Bylund and Jeff Deist discuss Covid and government responses against the backdrop of ripple effects, Say's law, "market failure," and the inability of bureaucrats to make rational tradeoffs.
