Categories:
Economic Education
EconLog blogger David Henderson has kindly agreed to film an AMA interview with me this week, which we will then share here. (And yes, you can expect more to come…)
Our topic of discussion will be, as titled above, Libertarians, Markets, and Pandemics. We’ll start with the question, Does the COVID-19 outbreak show that markets don’t work, or liberty must yield, during pandemics?
What else would you like to ask Henderson? Please email your questions to me at awillis@libertyfund.org. We’ll compile the questions to keep our interview dynamic. We’ll be recording later this week, so the deadline for question submissions will be Friday at noon, EST.
READER COMMENTS
Todd Mora
Mar 19 2020 at 10:28am
Hi Dr. Henderson,
My question is “Could the measures taken to combat COVID-19 actually be more harmful than the Coronavirus?”
My concern is with continuing escalation of business closures, “sheltering in place”, layoffs, and panic buying the longer-term impact with be a huge downturn in the economy that government officials will try to correct. The government solutions will actually exacerbate the problem, much like the great depression.
Thank you for considering my question.
Todd Mora
Mark Bahner
Mar 20 2020 at 4:45pm
Hi Todd,
I know you asked Dr. Henderson about this, but I’m preparing some comments. They comments might set some kind of record for length…I want to show in detail why my case is solid. But here is my short answer (with the longer answer to follow).
Spoiler alert!
Best wishes,
Mark
Scott Welles
Mar 19 2020 at 6:00pm
Hi Dr. Henderson,
With another $1 trillion stimulus on the table in response to the COVID-19 pandemic, I’m curious about your position on the already-high U.S. government debt load. Specifically, the longstanding practice of maintaining a high U.S. debt load is starting to carry less negativity (with economists) than it once did, due to persistently low inflation and low borrowing costs. Yet the CBO projects debt will total 93% of GDP by the end of 2030. One school of thought is that “when the interest rate on government borrowing is below the growth rate of the economy, financing the debt should be sustainable.” (https://www.wsj.com/articles/worry-about-debt-not-so-fast-some-economists-say-11550414860).
Should we be worried about the implications of high U.S. debt on potentially slowing wage growth by restricting private investment, and continuing to devote future budgets to financing the past?
Thank you for your time!
Sincerely,
Scott Welles
Tyler Wells
Mar 19 2020 at 9:54pm
I would like to know Dr. Henderson’s viewpoint on what role economists have in the discussion on the epidemic and the appropriate response to it. The WHO and the epidemiolgists are leading our society to take decisions that, it would seem to me, go far beyond the purlieu of the epidemiologists. Discussions on the correct actions to take should include all of society, including the economist.
SaveyourSelf
Mar 20 2020 at 5:47pm
Adam Smith in The Theory of Moral Sentiments states that justice is the foundation of civilization. Even Libertarian’s accept accept limitations on their freedom that promote justice. Justice is restraint against activities that cause harm. There are clear distinctions in the insurance industry between harm caused by other people and harms caused by “Acts of God” like hurricanes, hail, floods, and plagues. If “Acts of God” were theoretically amenable to limitations on human activies—ie. restraints on freedom—would Libertarians accept those restrictions or oppose them?
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