(Don Boudreaux) Tweet From Bill Evers’s Facebook page I learned of this recent New York Times op-ed by Christopher Caldwell . Caldwell discusses the left-wing Italian philosopher Giorgio Agamben’s assessment of governments’ reaction to the coronavirus.
Source: ‘Expertise’ Seizes Power
(Don Boudreaux) Tweet This video featuring Andy Puzder is pretty good:
Source: Capitalism versus Socialism
…… is the keen observation from Brown University economist Glenn Loury as he “channels Thomas Sowell” in a conversation with his former student Glenn Yu in City Journal (“ Race and Equality “), italics added : I’m channeling Thomas Sowell now.
Source: You have two alternatives. You can live with disparities, or you can live in totalitarianism….
There is nothing like a Dane…
(Paul Mirengoff) Whenever Bernie Sanders’s socialism comes up in the Democratic debates, he deflects criticism by saying he favors something along the lines of Denmark’s model. Sanders’s debate rivals almost invariably let this answer pass. (I think Pete Buttigieg tried to take it on in the last debate but couldn’t get the floor.) In reality, the policies Sanders advocates bear little resemblance to those of Denmark and other Scandinavian countries today .
Source: Bernie’s own private Denmark
In poor countries the price of electricity is low, so low that “utilities lose money on every unit of electricity that they sell.” As a result, rationing and shortages are common. Writing in the JEP, Burgess, Greenstone, Ryan and Sudarshan argue that “these shortfalls arise as a consequence of treating electricity as a right, rather than as a private good.” How can treating electricity as a right undermine the aim of universal access to reliable electricity? We argue that there are four steps. In step 1, because electricity is seen as a right, subsidies, theft, and nonpayment are widely tolerated. Bills that do not cover costs, unpaid bills, and illegal grid connections become an accepted part of the system. In step 2, electricity utilities—also known as distribution companies—lose money with each unit of electricity sold and in total lose large sums of money. Though governments provide support, at some point, budget constraints start to bind. In step 3, distribution companies have no option but to ration supply by limiting access and restricting hours of supply. In effect, distribution companies try to sell less of their product. In step 4, power supply is no longer governed by market forces. The link between payment and supply has been severed: those evading payment receive the same quality of supply as those who pay in full. The delinking of payment and supply reinforces the view described in step 1 that electricity is a right [and leads to] a low-quality, low-payment equilibrium.
Source: The Consequences of Treating Electricity as a Right
The thing is, this isn’t limited to electricity. The same process applies to any good or service, including health care.
Josh Muravchik & Andrew Walworth: Young Americans are flocking to the “socialist” banner that Bernie Sanders is waving. It sounds new and exciting, but it’s anything but new. It’s a tempting political vision that has been tried many times, in many ways, and in many places.
Source: The evils of socialism quickly emerge wherever it is tried