Wednesday , October 21 2020
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Some Links

Summary:
Jeffrey Tucker again rightly decries the evil of the covid lockdowns. And Bryan Caplan wonders at the cognitive dissonance that contributed to support for the evil lockdowns. I’ve always liked Van Morrison’s music. Now I like it even more. Bruce Yandle explains that Trump’s hubris blinds him to the reality that the economy cannot be engineered to “greatness.” A slice: Once again, President Trump is engaged in gatekeeper capitalism, where he employs the misguided conceit that he holds the keys to the U.S. economy, and that he can marshal enough information to actually manage this massive economy from a White House conference room. Eric Boehm inquires: “Is it too much to ask for a presidential candidate who cares about America’s fiscal health and respects the limits of his office?”

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Don Boudreaux writes Some Links

Jeffrey Tucker again rightly decries the evil of the covid lockdowns.

And Bryan Caplan wonders at the cognitive dissonance that contributed to support for the evil lockdowns.

I’ve always liked Van Morrison’s music. Now I like it even more.

Bruce Yandle explains that Trump’s hubris blinds him to the reality that the economy cannot be engineered to “greatness.” A slice:

Once again, President Trump is engaged in gatekeeper capitalism, where he employs the misguided conceit that he holds the keys to the U.S. economy, and that he can marshal enough information to actually manage this massive economy from a White House conference room.

Eric Boehm inquires: “Is it too much to ask for a presidential candidate who cares about America’s fiscal health and respects the limits of his office?

Kudos to Bo Winegard.

While I could pick nits with some points that Michael Strain makes in his defense of Milton Friedman’s famous case for what is sometimes called ‘shareholder capitalism,’ overall Michael’s essay is excellent. A slice:

As a matter of practicality, asking CEOs to make society better — the environment cleaner, working conditions safer, compensation higher — is beyond their competence and ability. It also invites inconsistencies. For example, doubling workers’ wages would make them better off, but it would require raising prices, making customers worse off. And if stakeholder capitalism has any teeth, it must mean that executives should on occasion act against the interest of their company’s owners. How is that a defensible management strategy? Should union members, Friedman reasonably asked, tolerate leaders who don’t fight for better wages and working conditions to keep prices lower for customers?

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Don Boudreaux
He is a professor of economics at George Mason University in Fairfax, Virginia. Previously, he was president of the Foundation for Economic Education.

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