The rising unemployment comes partly as a result of state governments forcing the closures of some businesses, or restricting operations, in the name of mandatory social distancing.
This Audio Mises Wire is generously sponsored by Christopher Condon. Narrated by Millian Quinteros.
Original Article: “New Unemployment Increased to 1.4 Million Last Week as Recovery Falters“.
You Might Also Like
The Second Act Will Be Worse Than the First: Lockdowns Are Not the Answer
2020-10-10
In the first presidential “debate” (I use that word creatively), Joe Biden hinted that he would order a national lockdown in order to “defeat” the covid-19 virus, and there certainly seems to be a consensus in the media and among political elites that if there is another “outbreak” of covid, then the “shelter in place” order will be the law of the land.
A Critique of the Labor Theory of Value
2020-10-13
Before proceeding, we should be clear on what an economic theory of value is supposed to do: its task is simply to explain the exchange value of particular goods and services. That is, an economic theory of value must explain why someone selling good X can receive x berries in exchange for it, whereas someone selling good Y will only find someone willing to give up y berries in exchange for his good (where y< x).
Why There’s So Much Confusion over What “Inflation” Means
2020-10-17
Understood properly, inflation is not a general increase in prices but is an increase in the money supply "out of thin air" which brings about the impoverishment of wealth generators. When inflation is seen as a general increase in prices, then anything that contributes to price increases is called inflationary.
Was Rothbard a Populist?
2020-10-29
Why did Murray Rothbard embrace populism and why did he think it could work to limit the power of the state? In short, Rothbard believed that a small elite had seized the power of the state to fleece and oppress the majority. Rothbard was in part basing his ideas on the historical narrative of the Democratic populists of the nineteenth century who formed the party of sound money, low taxes, and decentralized power. This laissez-faire party also managed to win a lot of elections.
Be sure to follow Radio Rothbard at Mises.org/RadioRothbard.
Socialists Have Never Shown How They Could Increase the Standard of Living
2020-11-04
Marxism sees the coming of socialism as an inescapable necessity. Even if one were willing to grant the correctness of this opinion, one still would by no means be bound to embrace socialism. It may be that despite everything we cannot escape socialism, yet whoever considers it an evil must not wish it onward for that reason and seek to hasten its arrival; on the contrary, he would have the moral duty to do everything to postpone it as long as possible.
The Impossibility of “Taxation with Representation”
2020-11-23
Whether you have watched The Sopranos, Goodfellas, or The Godfather, the gist of those stories is always the same: a mafia boss gets involved with a private person or sometimes a businessowner and demands a fee to be paid by midnight tomorrow, otherwise said person will lose a finger or two and maybe a kneecap as well.
Being Pro-union Means Being Antiworker
2020-11-24
After becoming the apparent president-elect, Joe Biden clearly promised to unify Americans. However, that promise was in sharp contrast to what his campaign promises would actually achieve.
When Governments Confiscate Wealth to Fund Government Programs
2020-12-02
The entrepreneurs try to undertake only such projects as appear to promise profits. This means that they endeavor to use the scarce means of production in such a way that the most urgent needs will be satisfied first, and that no part of capital and labor will be devoted to the satisfaction of less urgent needs as long as a more urgent need, for whose satisfaction they could be used, goes unsatisfied.
Tags: Featured,newsletter
