Measuring Overreaction

In a sense, Scott Sumner is completely right.  If you measure overreaction using the ratio of the reaction to the actual harm, then the Covid response probably doesn’t even make the U.S. “top 100.”  After all, many government crusades target “problems” that cause zero harm.  Or, like immigration, negative harm. In another sense, however, Scott is completely wrong. 

Cryptocurrency and the Shocking Revelation That White Supremacists Like Money

“White supremacists embraced cryptocurrency early in its development, ” Michael Edison Hayden and Megan Squire report at the Southern Poverty Law Center’s Hatewatch blog, “and in some cases produced million-dollar profits through the technology, reshaping the racist right in radical ways.” I have no doubt the claim is true.  What’s also true is a note several paragraphs into the piece: “Nothing is inherently criminal or extreme about it, and most of its users have no connections to the extreme far right. ”

Joe Biden, Let’s Not Go to War

Here’s a good idea: let’s not go to war against Russia. Let’s not even rattle a saber at Russia (or China, for that matter) because even wars that no one really wants can be blundered into. Many losers would be left in the aftermath, even if nuclear weapons were kept out of sight, but no one would win. So as that smart Defense Department computer says in the 1983 movie WarGames, “The only winning move is not to play.”