Cafe HayekCafe Hayek - where orders emerge - Article Feed
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Quotation of the Day
Posted: 17 Jan 2021 02:51 AM PST
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(Don Boudreaux)
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is from page 4 of the late, great UCLA economists Armen A. Alchian’s and
William R. Allen’s Universal Economics (2018; Jerry L. Jordan, ed.); this
volume is an updated version of Alchian’s and Allen’s magnificent and
pioneering earlier textbook, University Economics:
Two apparent devils restrict what you can have the limited amounts of
goods and services available, and the rest of us who also want them. It is
important to understand that scarcity does not exist because society
produces the wrong things (e.g., beer, pop-jazz, TV games) instead of the
right things (e.g., museums, symphony orchestras, art). Scarcity exists
because of our boundless desires for limited goods of all kinds and types.
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Bonus Quotation of the Day
Posted: 16 Jan 2021 03:41 PM PST
[link removed]
(Don Boudreaux)
Tweet
is from page 8 of the late, great UCLA economists Armen Alchian’s and
William Allen’s Universal Economics (2018; Jerry L. Jordan, ed.); this
volume is an updated version of Alchian’s and Allen’s magnificent and
pioneering earlier textbook, University Economics:
We want your study of economics to be interesting and even enjoyable. But
we promise one unanticipated result: you’ll be brainwashed in the
desirable sense of removing erroneous beliefs. You will begin to suspect
that a vast majority of what people popularly believe about economic events
is at least misleading and often wrong.
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On the Origins of 2020s Novel Lockdowns
Posted: 16 Jan 2021 06:08 AM PST
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(Don Boudreaux)
Tweet
In this video, Kate Wand explains the worlds Covid-19 lockdowns originated
in tyranny.
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Some Covid Links
Posted: 16 Jan 2021 05:36 AM PST
[link removed]
(Don Boudreaux)
Tweet
James Bovard is rightly furious at what he calls pandemic security theater.
A slice:
The pointless disruptions have done nothing to damage the prestige of
government in this neck of the woods – or in much of the nation. Instead,
many Americans feel entitled to denounce anyone not complying with the
latest edict as if they had been caught planting a pipe bomb under a school
bus. Governments have encouraged people to become vigilantes, setting
snitch lines that have been flooded with reports of people failing to obey
the latest revised social distancing and “stepping outside your damn house”
mandates.
Heres the opening to Stacy Rudins excellent essay First Goes Law, Then Goes
Democracy:
In his 1948 book, God in the Dock: Essays on Theology, C.S. Lewis wrote:
“Of all tyrannies, a tyranny sincerely exercised for the good of its
victims may be the most oppressive. It would be better to live under robber
barons than under omnipotent moral busybodies. The robber baron’s cruelty
may sometimes sleep, his cupidity may at some point be satiated; but those
who torment us for our own good will torment us without end for they do so
with the approval of their own conscience.”
Righteous moral busybodies flourish in our “COVID-19”-obsessed society.
They exert social pressure mandating the sharing of previously sacrosanct
private information, such as health status and travel itineraries. This
creates a nightmarish world of social flagellation in which we are shamed
for celebrating holidays with our families, or going out for exercise
within seven days of crossing a state line. Our acquaintances must have
this information about our comings and goings to ensure we are not
potentially diseased.
In this video, Remy rightly ridicules Covid hypocrites.
Newsweek reports on the new paper by Eran Bendavid, Christopher Oh, Jay
Bhattacharya, and John Ioannidis on the relative (in)effectiveness of
lockdowns at reducing the spread of Covid.
David Seedhouse calls Boris Johnson and other lockdowners unforgivably
negligent. (I would use a much harsher description, one that would include
some variant of the word criminal.)
This paper reveals the grotesque inaccuracy of Neil Fergusons criminally
reckless Imperial College model predictions. (HT Phil Magness) Heres Phils
take, shared on Facebook, on this papers conclusion about Fergusons
Imperial College model:
This is a devastating assessment of how the Imperial College model has
performed when compared to other models. As with Neil Fergusons work on
prior pandemics, Imperial tends to severely exaggerate projected mortality.
Out of 6 major models considered, Imperial is the clear outlier in
displaying a large upward bias.
Naturally, the Imperial model was also the most influential of the 6 by far
in shaping the decision to go into lockdown.
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