Articles by Mises Institute

Video: Alex Pollock Chairs a Panel Discussion on “Better Money: Gold, Fiat, Or Bitcoin?”

Video: Mises Institute Senior Fellow Alex Pollock moderates a panel discussion on Lawrence White’s new book Better Money: Gold, Fiat, Or Bitcoin?. The event is sponsored by the Federalist Society.  White delves into the timely debate surrounding alternative currencies amidst the backdrop of constant inflation in the fiat currency world. Better Money explains and analyzes gold, fiat dollars, and Bitcoin standards to evaluate their relative merits and capabilities as currencies. It addresses common misunderstandings of the gold standard and Bitcoin, and scrutinizes the evolution of currency, particularly the interplay between market and government roles. White provides provocative analysis of which standard might ultimately provide better money, and argues that we need a

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Human Action Conference 2024

Students apply for a scholarship here.
"Once in a great while, a book appears that both embodies and dramatically extends centuries of accumulated wisdom in a particular discipline, and, at the same time, radically challenges the intellectual and political consensus of the day. Human Action by Ludwig von Mises is such a book, and more: a comprehensive treatise on economic science that would lay the foundation for a massive shift in intellectual opinion that is still working itself out fifty years after publication."
So begins the introduction to the 1998 scholar’s edition of Mises’s Human Action, written by Jeffrey Herbener, Hans-Hermann Hoppe, and Joseph Salerno. These words still ring true today.
We are excited to invite you to join us at the Mises Institute in Auburn, Alabama, for our

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Austrian Economics Research Conference 2024

The Austrian Economics Research Conference is the international, interdisciplinary meeting of the Austrian school, bringing together leading scholars doing research in this vibrant and influential intellectual tradition. 2024 marks the 50th anniversary of the South Royalton Austrian Economics Conference.

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Human Action Conference 2024

Students apply for a scholarship here.
"Once in a great while, a book appears that both embodies and dramatically extends centuries of accumulated wisdom in a particular discipline, and, at the same time, radically challenges the intellectual and political consensus of the day. Human Action by Ludwig von Mises is such a book, and more: a comprehensive treatise on economic science that would lay the foundation for a massive shift in intellectual opinion that is still working itself out fifty years after publication."
So begins the introduction to the 1998 scholar’s edition of Mises’s Human Action, written by Jeffrey Herbener, Hans-Hermann Hoppe, and Joseph Salerno. These words still ring true today.
We are excited to invite you to join us at the Mises Institute in Auburn, Alabama, for our

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Last Day to Give in 2023!

YOUR GIFT WILL HELP US DO MORE IN 2024.
With your gift of $25 or more, you will receive a copy of Joe Salerno’s The Progressive Road to Socialism.
Recurring donors of $10 who give $100 will also receive a copy of The Progressive Road to Socialism and renew their Membership through 2024.
DONATE TODAY!

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Time Is Running Out!

YOUR GIFT WILL HELP US DO MORE IN 2024.
With your gift of $25 or more, you will receive a copy of Joe Salerno’s The Progressive Road to Socialism.
Recurring donors of $10 who give $100 will also receive a copy of The Progressive Road to Socialism and renew their Membership through 2024.
Donate today!

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Selections from The End of the Dollar Era

Government-Managed Digital Currency: A Further Threat to Our Freedom
by Paul Gottfried
Whatever the modern self-described liberal democratic administrative state claims to be doing in the name of disadvantaged people is intended primarily and perhaps exclusively to increase government control. Further, whenever the same regime purports to be making our lives more comfortable, more agreeable, we may assume that our freedom and property rights are under assault.
Therefore, when I read about an executive order issued by the Biden administration last year regarding a plan for digital currency, I naturally suspected something quite dire.
The attempt to present central bank digital currencies (CBDC) as a courtesy that the state will be providing grateful citizens is patent nonsense. The

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It’s Time to Renew Your Mises Membership

It’s that time again! Join or renew your 2024 Membership with the Mises Institute and be part of a community that champions Austrian economics, freedom, and peace.
Why Join? In a world facing economic challenges, the ideas of Ludwig von Mises have never been more vital. Help us lead the charge against statism in all its forms.
3 Member Benefits
The Misesian: Immerse yourself in our exclusive bimonthly publication, delivering insightful content straight to your mailbox.Free Audiobook Monthly: Expand your intellectual horizons with a complimentary audiobook every month.Mises Store Discount: Enjoy special savings as a token of our appreciation.Membership Levels
Sustaining Member: Dive deep into our cause for just $10 a month.Standard Membership: Only $100 for your 2024 Membership.For more

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Get Your Free Booklet by Joe Salerno!

There has been a radical change in the social and political landscape in this country, and any person who desires the victory of liberty and the defeat of Leviathan must adjust his strategy accordingly. New times require a rethinking of old and possibly obsolete strategies.–Murray N. Rothbard
Murray Rothbard wasn’t only a brilliant economist, historian, and political philosopher; he was a man driven to defend the cause of liberty against the authoritarian threats of his age. He frequently wrote on strategy, applying his keen intellect to unraveling the greatest dangers of the time.
In The Progressive Road to Socialism, Joseph Salerno builds upon Rothbard’s work to expose the threat of modern progressivism, which seeks “to combine socialism with the appealing virtues of ‘democracy’ and

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A Chance to Double Your Gift!

Dr. Gary Schlarbaum, one of our generous supporters, has again offered to match donations received through December 11. That means your $10 donation becomes $20, your $25 donation becomes $50, and so on. For the last nine years, Gary has kickstarted our year-end campaign with his matching gift. He’s ready to match your gift today!
With a donation of $25 or more, you’ll receive a copy of Dr. Joseph Salerno’s The Progressive Road to Socialism. And, thanks to Gary, your donation doubles. Please donate today.
Your gift allows the Mises Institute, in this critical moment, to carry on publishing our books and videos; aiding research and teaching in Austrian economics; promoting the Austrian School to the public; and training tomorrow’s champions of economics of freedom.

We are the life-support

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Mises Institute Announces Dr. Thomas DiLorenzo as President

For Immediate Release
Auburn, Ala. – The Mises Institute announced that Thomas DiLorenzo has been named its next president, following approval by its Board of Directors.
DiLorenzo has a long and distinguished career as an academic economist, author, and speaker. He was Professor of Economics at Loyola University, Maryland, from 1992 to 2020. He served previously as the Probasco Chair of Free Enterprise at the University of Tennessee at Chattanooga, Assistant and Associate Professor of Economics at George Mason University, John M. Olin Visiting Professor of American Business at Washington University, St. Louis, and Assistant Professor of Economics at the State University of New York at Buffalo. A specialist in political economy, public choice economics, and economic history, his books

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Last Day to Double Your Gift

The Mises Institute sends a big THANK YOU to everyone who already donated to our Fall Campaign this week.
Your support helps us continue to make the sound economic principles of Mises, Rothbard, Hazlitt, and Hayek free to the world at a time when they are needed more than ever.
If you haven’t had time to donate, please do so today. Hunter Lewis, a generous donor and author of numerous books, is passionate about educating a future generation of students and has generously offered to match your gift until the end of the day. So double your impact by making your most generous gift today.
Any amount—even $5—helps. And just a $5 monthly gift entitles you to all the benefits of a Friend of the Institute in 2024.
Mises.org is one of the most popular economics resources in the world. Generous

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Three Cheers for Mises

Today marks the birthday of Ludwig von Mises, and day 5 of our annual Fall Campaign.
The intellectual achievements of Ludwig von Mises make him one of the greatest minds in human history. His contributions to Austrian economics inspired new generations of scholars, from Murray Rothbard and F.A. Hayek to current leaders like Joe Salerno, Ron Paul, and Patrick Newman. He is the most powerful intellectual opponent to socialism the world has ever known, and his work on money and credit remains essential to understanding the corruption of the modern economy. Thanks to our generous donors, the Mises Institute continues to publish his great works, inspiring generations of freedom champions around the world, from the United States to China, from Eastern Europe to South America.
Mises was not

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Donate $5, Get Rothbard’s Greatest Myths!

Rothbard destroys the greatest myths of our time.
America has been captured by economic denialism. The political class has driven the debt to a point that was once thought unimaginable. Inflation continues to eat away at the paychecks of everyone. The weaponization of the dollar has driven other countries to seek to abandon it.
In 1984, Murray Rothbard wrote Ten Great Economic Myths, a succinct attack on the fallacies perpetrated by the politicization of the economy. The political agenda continues to seep into all facets of our lives and needs to be unmasked. With your donation today, you will receive a copy of this Rothbard classic.
The power of Ten Great Economic Myths is in its brevity. It is short and to the point. The timeless wisdom will sharpen the skills of the most veteran reader

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Bringing the Truth

The best people in the world support the Mises Institute. Will you join them?
Who are they? People just like you. People who happen to care deeply about human liberty and human flourishing. People who care about real economics. People who oppose state power, central banks, and war. People who care about truth and honest history.
They come from all walks of life. Some give $20, some give more. But they are all people like you, people who understand the threat statism poses to our world.
The Mises Institute is not funded by government grants or wealthy foundations with agendas. That’s why we need you.
The Institute is unique. We attack the state, the political class, and their crony clients—without exception and without apology. We win new hearts and minds, year after year. We reach more

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Thanks to Our Fall Campaign Donors

Thanks to all of our generous donors who are participating in our 2023 Fall Campaign. Your continued support is vital and much appreciated. Donors are added daily.
Won’t you join them?

Monday, September 25
Abdelhamid Abdou Adam BattlesAdam DengAlan ZibelmanAndreas HübnerAnonymousAndrew WindsorArthur KnolleAnonymousBarb WhitemanBridget SantosCarl ChambersCarlos Aixerch MateuCharles CrawleyCharles DemastusChris Lingwall, In honor of Milton Friedman and Thomas Sowell who opened my eyes 50 years agoChris StriebeckChristopher SearsCristina FontaineDan ZipayDaniel Krivickas, In memory of True Liberty and Economic FreedomDarlene CorbettDave BennerDavid CardaronellaDavid NeilsonDavid ShaneDavid StefanDavide TafuriDione DurhamDon BellanteDonald SteeleDoug Hill, In honor of Ron PaulDouglas

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Our Fall Campaign Starts Today!

The mission of the Mises Institute is simple. We want to spread the ideas of Ludwig von Mises and the scholars he inspired. Ideas that are vital for a free and prosperous civilization.
We do this through our student programs, our popular articles, our podcasts, one of the largest free economic libraries available online, and our new animated videos for beginners.
Online and in person, we attack the state, the political class, and their crony clients—without exception and without apology. We reach more people than some DC organizations with ten times our budget. Now our mission of education is more important than ever.
Unfortunately, just as Ludwig von Mises was attacked by the Left, the Right, and even his own fellow libertarians for his “intransigence” in defense of free markets, we are

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The White House, the Fed, and the Economy: Mises Circle in Fort Myers, FL

Every day, Americans feel the political capture of the economy. Inflation, taxes, and regulatory costs hit our paychecks and savings. The regulatory capture of medical industries; food and energy production; and the various instruments of Big Tech empowers the regime with new tools to promote their latest ideological cause. The ever-growing burden of government debt has become a crisis without any political will to address it.
This November, the Mises Institute will be in Fort Myers, Florida, to cut through the campaign talking points and offer an uncompromising look at what is coming next. Speakers include Bob Murphy, Patrick Newman, Jonathan Newman, and Murray Sabrin. Join fellow travelers from around Florida and beyond for a dose of sanity before we hit the peak of the 2024 political

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Against Our Limitless Regime: An Empire of Lies

From war across the globe to regulating speech to printing trillions of dollars, the American regime accepts no limits on its power. As Ludwig von Mises understood, the state will take as much power as the people will let it, and in recent years the American regime has clearly concluded it can get away with unilaterally adopting vast new powers.
Join the Mises Institute in Nashville on September 23rd for an event inspired by this siege of power and one of Ron Paul’s favorite lines: truth is treason in the empire of lies.
We will be joined by a group of brave speakers who have dedicated their careers to rejecting the regime’s propaganda at personal cost: Ted Galen Carpenter, Michael Rectenwald, Karen Kwiatkowski, and Jonathan Newman. Carpenter will cover the national security state’s global

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Join Us for the Medical Freedom Summit!

The tyrannical threat of the biomedical security state is ever present.
While those that cheered for lockdowns, vaccine mandates, and the shutdown of the global economy retreat to the back pages of the news, the World Health Organization and their ilk are already gearing up for the next crisis. The covid scare may have lost its political potency, but you can be sure that "public health emergencies" will continue to be a powerful tool for future control.
Join us for a Medical Freedom Summit featuring two brave leaders in the fight against medical tyranny.
Dr. Peter McCullough is one of the most respected truth tellers in the profession, making him a frequent target of censorship from regime-controlled traditional and social media. One of America’s most published cardiologists, Dr.

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Mises U Students Interview Some of Their Favorite Faculty Members

This year during Mises University, we want to share the perspective of students in the program. The following are YouTube shorts from some of this year’s Mises Apprentices, interviewing some of their favorite faculty members.

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Mises University is going on the entire week. You can watch live from home at mises.org/live.The Best Week of the Year is only possible due to the generosity of our incredible donors. Every donor this week who gives $100 or more today will receive this year’s awesome Mises U t-shirt! Go to Mises.org/MUnow to make your donation today.

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Mises U Students Share Their Favorite Finds at the Mises Institute

This year during Mises University, we want to share the perspective of students in the program. The following are YouTube shorts from some of this year’s Mises Apprentices, sharing some of their favorite parts of the Mises Institute.

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Mises University is going on the entire week. You can watch live from home at mises.org/live.
The Best Week of the Year is only possible due to the generosity of our incredible donors. Every donor this week who gives $100 or more today will receive this year’s awesome Mises U t-shirt! Go to Mises.org/MUnow to make your donation today.

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Mises U Students Share Their Favorite Finds at the Mises Institute

This year during Mises University, we want to share the perspective of students in the program. The following are YouTube shorts from some of this year’s Mises Apprentices, sharing some of their favorite parts of the Mises Institute.

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Mises University is going on the entire week. You can watch live from home at mises.org/live.
The Best Week of the Year is only possible due to the generosity of our incredible donors. Every donor this week who gives $100 or more today will receive this year’s awesome Mises U t-shirt! Go to Mises.org/MUnow to make your donation today.

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Student’s Favorite Moments from Tuesday at Mises U

This year during Mises University, we want to share the perspective of students in the program. The following are YouTube shorts from some of this ye ar’s Mises Apprentices asking fellow students about the highlights from Tuesday, which included an evening pool party.

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Mises University is going on the entire week. You can watch live from home at mises.org/live.
The Best Week of the Year is only possible due to the generosity of our incredible donors. Every donor this week who gives $100 or more today will receive this year’s awesome Mises U t-shirt! Go to Mises.org/MUnow to make your donation today.

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The Most Exciting Moments from Monday of Mises U

This year during Mises University, we want to share the perspective of students in the program. The following are YouTube shorts from some of this year’s Mises Apprentices asking fellow students about the highlights from the first full day of Mises U.

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In this short, one of our Mises U students talks to Dr. Patrick Newman, a member of the faculty and a Mises U alum.[embedded content]
Mises University is going on the entire week. You can watch live from home at mises.org/live.
The Best Week of the Year is only possible due to the generosity of our incredible donors. Every donor this week who gives $100 or more today will receive this year’s awesome Mises U t-shirt! Go to Mises.org/MUnow to make your donation

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What Has Mises U Students Most Excited About the Week?

This year during Mises University, we want to share the perspective of students in the program. The following are YouTube shorts from some of this year’s Mises Apprentices, explaining what excites them most about "the best week of the year." A common theme is the power of the ideas that have attracted students from around the world to Auburn this summer and the unique opportunity to learn from, discuss, and debate them with their colleagues and our distinguished faculty.

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Mises University is going on the entire week. You can watch live from home at mises.org/live.
The Best Week of the Year is only possible due to the generosity of our incredible donors. Every donor this week who gives $100 or more today will receive this year’s

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Mises University Starts in Two Days. Will You Support Our Budding Scholars?

Only two days left until Mises University begins! Our students have completed their required readings and have already started discussing Misesian utilitarianism, Rothbardian natural law, and Hoppean argumentation ethics in the Mises University private group chat. We can already tell how enthusiastic and smart these students are!
We have students from forty-seven colleges and universities at this year’s Mises University. Look and see if your alma mater is represented at "The Best Week of the Year!"
Mises University would not happen without our generous donors. There’s still time to support this year’s program. Thank you!

Angelo State UniversityAuburn UniversityBelmont Abbey CollegeBoise State UniversityBryan CollegeCasper CollegeChalmers University of TechnologyCoastal Alabama Community

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Myth #7: Deflation — Falling Prices — Is Unthinkable, and Would Cause a Catastrophic Depression

Recorded by the Mises Institute in the mid-1980s, The Mises Report provided radio commentary from leading non-interventionists, economists, and political scientists. In this program, we present another part of "Ten Great Economic Myths". This material was prepared by Murray N. Rothbard.

The public memory is short. We forget that, from the beginning of the Industrial Revolution in the mid-18th century until the beginning of World War II, prices generally went down, year after year. That’s because continually increasing productivity and output of goods generated by free markets caused prices to fall. There was no depression, however, because costs fell along with selling prices. Usually, wage rates remained constant while the cost of living fell, so that "real" wages, or everyone’s

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Myth #6: There Is a Tradeoff between Unemployment and Inflation

Recorded by the Mises Institute in the mid-1980s, The Mises Report provided radio commentary from leading non-interventionists, economists, and political scientists. In this program, we present another part of "Ten Great Economic Myths". This material was prepared by Murray N. Rothbard.

Every time someone calls for the government to abandon its inflationary policies, Establishment economists and politicians warn that the result can only be severe unemployment. We are trapped, therefore, into playing off inflation against high unemployment, and become persuaded that we must therefore accept some of both.
This doctrine is the fallback position for Keynesians. Originally, the Keynesians promised us that by manipulating and fine-tuning deficits and government spending, they could and

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Myth #5: Economists, Using Charts or High Speed Computer Models, Can Accurately Forecast the Future

Recorded by the Mises Institute in the mid-1980s, The Mises Report provided radio commentary from leading non-interventionists, economists, and political scientists. In this program, we present another part of "Ten Great Economic Myths". This material was prepared by Murray N. Rothbard.

The problem of forecasting interest rates illustrates the pitfalls of forecasting in general. People are contrary cusses whose behavior, thank goodness, cannot be forecast precisely in advance. Their values, ideas, expectations, and knowledge change all the time, and change in an unpredictable manner. What economist, for example, could have forecast (or did forecast) the Cabbage Patch Kid craze of the Christmas season of 1983? Every economic quantity, every price, purchase, or income figure is the

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Myth #4: Every Time the Fed Tightens the Money Supply, Interest Rates Rise (Or Fall)

Recorded by the Mises Institute in the mid-1980s, The Mises Report provided radio commentary from leading non-interventionists, economists, and political scientists. In this program, we present another part of "Ten Great Economic Myths". This material was prepared by Murray N. Rothbard.

The financial press now knows enough economics to watch weekly money supply figures like hawks; but they inevitably interpret these figures in a chaotic fashion. If the money supply rises, this is interpreted as lowering interest rates and inflationary; it is also interpreted, often in the very same article, as raising interest rates. And vice versa. If the Fed tightens the growth of money, it is interpreted as both raising interest rates and lowering them. Sometimes it seems that all Fed actions,

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Myth #3: Tax Increases Are a Cure for Deficits

Recorded by the Mises Institute in the mid-1980s, The Mises Report provided radio commentary from leading non-interventionists, economists, and political scientists. In this program, we present another part of "Ten Great Economic Myths". This material was prepared by Murray N. Rothbard.

Those people who are properly worried about the deficit unfortunately offer an unacceptable solution: increasing taxes. Curing deficits by raising taxes is equivalent to curing someone’s bronchitis by shooting him. The "cure" is far worse than the disease.
For one reason, as many critics have pointed out, raising taxes simply gives the government more money, and so the politicians and bureaucrats are likely to react by raising expenditures still further. Parkinson said it all in his famous "Law":

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Myth #2: Deficits Do Not Have a Crowding-Out Effect on Private Investment

Recorded by the Mises Institute in the mid-1980s, The Mises Report provided radio commentary from leading non-interventionists, economists, and political scientists. In this program, we present another part of "Ten Great Economic Myths". This material was prepared by Murray N. Rothbard.

In recent years there has been an understandable worry over the low rate of saving and investment in the United States. One worry is that the enormous federal deficits will divert savings to unproductive government spending and thereby crowd out productive investment, generating ever, greater long-run problems in advancing or even maintaining the living standards of the public.
Some policymakers have once again attempted to rebut this charge by statistics. In 1982–83, they declare, deficits were

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Myth #1: Deficits Are the Cause of Inflation; Deficits Have Nothing to Do With Inflation

Recorded by the Mises Institute in the mid-1980s, The Mises Report provided radio commentary from leading non-interventionists, economists, and political scientists. In this program, we present another part of "Ten Great Economic Myths". This material was prepared by Murray N. Rothbard.

In recent decades we always have had federal deficits. The invariable response of the party out of power, whichever it may be, is to denounce those deficits as being the cause of our chronic inflation. And the invariable response of whatever party is in power has been to claim that deficits have nothing to do with inflation. Both opposing statements are myths.
Deficits mean that the federal government is spending more than it is taking in in taxes. Those deficits can be financed in two ways. If

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Radio Promo

Recorded by the Mises Institute in the mid-1980s, The Mises Report provided radio commentary from leading non-interventionists, economists, and political scientists.

For more episodes, visit Mises.org/MisesReport.

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Property, Civilization, and Culture: Mises in Reno

"The foundation of any and every civilization, including our own, is private ownership of the means of production. Whoever wishes to criticize modern civilization, therefore, begins with private property." — Ludwig von Mises
Every day, more and more Americans are awakening to the reality that the institutions in control of this nation are failing them. From violence in the streets, inflation in our stores, increasing tyranny and censorship, and absolute buffoonery on public display in halls of political power. The ruling class is getting richer while most of us suffer, and new generations are becoming increasingly warped by the dangerous ideologies of the left.
Join the Mises Institute in Reno, Nevada, for an event dedicated to key issues of our time: Property, Civilization, and

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The Great Reset: Mises in Birmingham

Students apply for an admission scholarship here.
In recent years, Americans have suffered from the horrors of covid tyranny, government-directed corporate censorship, and now our current banking crisis. The global elite have never been more obvious in their intentions for the greater control over society. Their aim is further consolidation of power and wealth into the hands of radical ideologues and to transform almost every aspect of human society. 
They are not subtle in their ambition. They call it The Great Reset.
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Join the Mises Institute in Birmingham, Alabama for an event dedicated to this global threat. Speakers include Dr. Michael Rectenwald, author of The Great Reset and the Struggle for Liberty. One of the most prominent critics of woke capital, Dr. Rectenwald

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Submission Guidelines for the Mises Wire

The Mises Wire depends on unaffiliated contributors for a significant proportion of its content. We welcome submissions from everyone, regardless of educational achievements and other credentials, so please send us your essays!
We’re looking for short articles that approach real-world economic issues from an Austro-libertarian perspective (read: not just theory). We also accept history and sociology pieces that make use of Austrian or libertarian ideas. Radicalism is welcome, but submissions should aim to reach people beyond the free-market sphere.
Send essays to [email protected] with “Mises Wire submission” in the subject line.
Please adhere to the following guidelines when submitting your essay for consideration.
1. Do not submit your essay to other outlets while we’re reviewing it.
2.

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Money versus Monetary Policy

With all due respect to Niall Ferguson, whom I’ve heard of, and Huw van Steenis, whom I’ve not, this tweet is quite preposterous.  I’ve personally met more than five people who understand money just in my own circles.

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How to Lose $143 Billion Trading Stocks

Now here’s the headline! Swiss National Bank loses nearly $143 billion in first nine months Reuters reported the Q3 result last week, in which Switzerland’s publicly traded central bank (SNB) suffered its largest loss in its 115-year history.

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The Best Week of the Year Has Never Been More Important

The world today is in crisis. Military aggression in Ukraine has escalated into global economic war, with nations forced to choose between following the lead of an increasingly illiberal West and access to the vital energy and industrial markets of Russia and China. At the same time, the world continues to suffer the devastating consequences of "public health" experts who exploited the coronavirus crisis to pursue their underlying authoritarian impulses.

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Swiss National Bank Fights Climate Change

The latest quarterly filing statement of the Swiss National Bank (SNB) has been issued. Switzerland’s publicly traded central bank had a decrease in the value of its US stock holdings by around $5 billion in Q3 of 2021, ending the quarter with a value of $157 billion. SNB currently has a profit of over $40 billion for the 9 months ended in the year.

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Double Your Gift Today!

Dr. Gary Schlarbaum, one of our generous supporters, has again offered to match all donations received through December 7. That means your $10 donation becomes $20, your $25 donation becomes $50, and so on.

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End the Shutdown

The shutdown of the American economy by government decree should end. The lasting and far-reaching harms caused by this authoritarian precedent far outweigh those caused by the COVID-19 virus. The American people—individuals, families, businesses—must decide for themselves how and when to reopen society and return to their daily lives.

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