Skip to content
LPBN-Icon-v1 (1)
The Right Coast
A Member of the Law Professor Blogs Network

Government Failure Gave the World Covid – WSJ

By Thomas A. Smith

The dispute between Sen. Rand Paul and Anthony Fauci about the Wuhan Institute of Virology s role in the Covid-19 pandemic gets to the heart of economic policy. Economists are trained to believe that the purpose of government policy is to correct market failures: Capitalism has undesirable side effects, such as excessive pollution or inequality, that must be ameliorated by the state. The lessons of the Covid-19 pandemic, the most important recent event affecting the world economy, demonstrate the opposite.

via www.wsj.com

Indeed.