The coronavirus lockdowns demonstrated our leaders’ ignorance of economic interdependence. After the riots, that ignorance has been shown to run far deeper. It is an ignorance about government’s most fundamental obligation: to safeguard life, liberty, and property. It is an ignorance about human nature and human striving.
Going forward, our best leaders will eschew political gamesmanship and work to control our borders, fix our public health agencies, and end our dependence on China and other foreign countries for goods that are essential to our national health and security. We must prepare ourselves to face the next pandemic without surrendering our way of life.
Almost everything you think you know about the health effects of cannabis, almost everything advocates and the media have told you for a generation, is wrong.
American medical care over this period has saved the lives of millions who could not have been saved before—life expectancy today is 78.6 years. It has relieved the pain and suffering of tens of millions more. But it has also become a monster that is devouring the American economy.
The key economic concept required to understand the labor market effects of the ACA is what economists call “tax distortions.”