Prabhudesai asked: Is a vaccine a “public good”?
In economics, goods that are non-rival (consumption of the good by someone does not decrease the amount available for others to consume) and non-excludable (no one can be prevented from consuming) are called pure public goods. By that definition, clearly a vaccine is not a pure public good.
A good that is non-rival but excludable is called a “club good” — a large park in a gated community, for example. A good that is rival but non-excludable is called “common pool” — a pasture for grazing cattle with no fences, for example.
Don Boudreaux over at Cafe Hayek makes very important points:
A government that acts without rules, that consistently changes course in favor of exercising ever-more and longer-lasting power, and that now refuses to publicly state guidelines for ending its unprecedented assault on ordinary human liberties is tyrannical. I don’t see how this word fails to accurately describe today’s British government – as well as many other governments across the globe. Continue reading
The Wuhan ‘flu aka Covid-19 has killed a heap of people but the lockdowns imposed by governments have turned a bad situation into a catastrophe that will eventually kill more innocents than the two world wars combined did in the past century. I am not a fan of government on days that end in a y but the idiocy of shutting down nearly all activities is, to use the proper technical term, batshit crazy even by the extremely retarded standards of governments.
At some time I hope there would be the equivalent of the Nuremberg Trials and the leaders of these countries tried for “Crimes against Humanity.” Those crimes were motivated by the sole purpose of grabbing more power and wealth from the public, regardless of the cost. Mass murderers of the last century — Hitler, Stalin, Mao, Pol Pot, King Leopold, Yahya Khan, et al — cannot hold a candle to those in power today. Look at the numbers —
Internationally, the lockdowns have placed 130 million people on the brink of starvation, 80 million children at risk for diphtheria, measles and polio, and 1.8 million patients at risk of death from tuberculosis. The lockdowns in developed countries have devastated the poor in poor countries. The World Economic Forum estimates that the lockdowns will cause an additional 150 million people to fall into extreme poverty, 125 times as many people as have died from COVID. Continue reading
Tom Woods is a brilliant speaker. Engaging, funny and entertaining. Besides, he makes sense. Lockdowns are a bad idea, as I wrote in my previous post, A Most Expensive Hoax.
[Addendum: YouTube has taken down that video. You can watch the video at Tom Wood’s site.]
The Chinese virus has done a whole lot of damage and a lot of people — mostly elderly — have died. But the death toll has to be put into perspective. Here’s a graph of monthly deaths per million population from Jan 1851 to July 2020. Note the 1993 Beijing flu killed a whole lot more than the Wuhan flu (Covid-19). (Click on the image to embiggen.)
The Seen and the Unseen
Every action has not one but many effects; of these many effects, only some — perhaps one — are intended, and others are unintended; some of the many effects are beneficial and others are harmful; some are immediate, and others delayed; some are foreseen and others not; some are known and others unknown; some are evident and others not. The world is complicated because things are connected and interrelated, and what happens in one part affects other parts, and all sorts of things are happening all the time and therefore it is hard to fully understand the consequences of any large-scale intervention.
The world in which actions have only intended, beneficial, immediate, foreseen, known and evident effects is not the world we live in. In our world, actions also have effects that are unintended, harmful, delayed, unforeseen, unknown and concealed. What does that imply, though? Should one do nothing in the face of uncertainty and risk? No. It means that one should have the humility to not presume to know what’s best for the world and be very hesitant to command others to do one’s bidding. Continue reading