By invoking the Defense Production Act, which “authorizes the President to require acceptance and priority performance of contracts or orders and to allocate materials, services, and facilities to promote the national defense or to maximize domestic energy supplies,” US president Donald Trump has declared himself America’s economic dictator.
Tag: business
Yo Don’t Have To be Selfless In a Crisis- Just Be Useful
Want to help your neighbors during the COVID-2019 coronavirus pandemic? You don’t necessarily have to do it for free. Some of the most useful people will be people who are doing remunerative work.
Reflections on the Leiter-Caplan Debate
It was a pleasure debating Brian Leiter last week. The resolution, to repeat: “Social democracy is preferable to market capitalism, but ultimately America will need to move towards a socialist system.” Here are some thoughts I failed to fully articulate at the live event. As always, I’m happy to publish any reply my opponent wishes to compose.
A Proposal for Real Coronavirus “Stimulus”
The Fed is returning to a policy of “Quantitative Easing” in response to the COVID-19 panic. The idea behind these moves is that throwing money at the banks and the government will “stimulate” the economy by keeping credit easy for consumers and business borrowers. I have a better idea.
Paul Krugman, COVID-19, and Broken Windows
The jury is still out on which of two things — COVID-19 or the panic over COVID-19 — will cost more lives and do more damage to the global economy. My money’s still on the latter. In the meantime, I’ve developed a surefire, Groundhog Day type test for whether the emergency is over: Watch for Nobel laureate economist and New York Times columnist Paul Krugman to start trying to convince us it was, all in all, actually a GOOD thing.
The Leiter-Caplan Socialism Debate
All First World countries are already social democracies. Their governments continue to allow markets to provide most goods and services, but they heavily regulate these markets, heavily subsidize favored sectors like education and health, and heavily redistribute income. The U.S. is moderately less social democratic than France or Sweden, but the idea that we have “market capitalism” while they have “social democracy” is hyperbole.
None of Your Business
Most of our predecessors got to experience what is was like to have anonymous or private experiences that people never found out about – or at least found out about later. People had to actually ask them what they were up to: “where are you moving?” “What are you doing for work?” “Do you have a girlfriend?”. And our pre-digital predecessors had to make the decision on a case by case basis about whether to share and how much to share. What if things were still like this? What if you didn’t broadcast everything out to a wide audience? If you don’t know or can’t remember, it’s probably a sign.
Coronavirus Reminds Us What Education Without Schooling Can Look Like
We have collectively become so programmed to believe that education and schooling are synonymous that we can’t imagine learning without schooling and become frazzled and fearful when schools are shuttered. If nothing else, perhaps this worldwide health scare will remind us that schooling isn’t inevitable and education does not need to be confined to a conventional classroom.
Being Your Own Man Doesn’t Have To Mean Rejecting a Legacy
People leave the family farm. Sons go to college instead of going to work into the plumbing business. It has a thousand faces, but there’s this American idea that inheriting a vocation is “settling,” so you’d better go off and find a new one.
Coronavirus and the World As You Know It
It’s a strange thing, knowing about the oncoming coronavirus. I realize it will infect a great many people. And I realize that it may make things like convenient grocery runs a thing of the past. I realize this bright beautiful place of commerce and civilization may be emptied, or may be shut down.