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More to follow, but @iealondon staff (current and former) have been thinking quite a bit about the economic implications, the policy implications and the social implications of Coronavirus.
Let's start with @MrRBourne on "Corona-Keynesianism":
iea.org.uk/coronomics-the…
(Thread)
Here's Prof Philip Booth, on the fallacy of seeing the virus as a "failure" of globalisation and free trade:
iea.org.uk/five-decades-o…
Here's Prof @SyedKamall, on why a proactive government response need not be incompatible with classical liberalism, but also on the dangers of this becoming permanent:
iea.org.uk/some-classical…
Here's @MarkJLittlewood on some of the #NeverNeeded regulations that are now being suspended:
thetimes.co.uk/article/maybe-…
Me on what it means to say that someone is "politicising" a crisis (as opposed to spelling out what they honestly believe to be the policy implications):
capx.co/whos-really-po…
Here's @cjsnowdon on why, believe it or not, the Coronavirus is NOT a "crisis of capitalism", and the answer to it isn't socialism:
spectator.co.uk/article/corona…
The economics of panic buying, and loo roll hoarding as a "Prisoner's Dilemma"-type situation - @julianHjessop:
iea.org.uk/the-economics-…
Me on how modern technology is making the situation FAR less bad than it could have been:
iea.org.uk/corona-95-what…
Here's a poddie with Dr @SteveDavies365 on the history of pandemics:
livefromlordnorthstreet.podbean.com/e/what-the-his…
Prof Len Shackleton, on why we shouldn't get to carried away with the "homeworking hype":
iea.org.uk/publications/p…
Coronomics: Dr @SteveDavies365 again, on the economic impact of COVID-19.
livefromlordnorthstreet.podbean.com/e/coronomics-w…
Poddie with @emmamrevell et moi: Is COVID-19 a crisis of globalisation? Have communitarians and economic nationalists been vindicated?
livefromlordnorthstreet.podbean.com/e/coronavirus-…
Prof Philip Booth, for @CapX, on how we should pay for the cost of the Corona crisis.
Or, to put it in more Twittery terms:
How should we FNUD teh Cornoavirsu?!?
capx.co/how-should-we-…
Watch #IEAsolation, Episode 1, with @MarkJLittlewood, @MissVHewson, @cjsnowdon and @darrengrimes:
youtube.com/watch?v=J9vzN0…
Is mass testing, combined with track-and-trace, and quarantining, the answer?
Possibly - but there are massive civil liberties issues, which need sorting out first, says @MissVHewson:
iea.org.uk/corona-trade-o…
Coronomics: Everybody is outraged about short selling.
And everybody is wrong, says @julianHjessop:
iea.org.uk/in-defence-of-…
Will the Coronavirus pave the way for permanent eco-austerity?
Probably not - so Eco-Malthusians shouldn't get too excited, says @mayerandrew:
iea.org.uk/will-covid-19-…
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Kristian Niemietz (trending in South Wandsworth)
@K_Niemietz
The Financial Times is basically the Guardian for people who like exchange rates and stock market indices.
One more time: Nobody has been "vindicated" by the Coronavirus. It does not refute, and it does not confirm any particular worldview.
It is not the case that countries which follow economic model X have done systematically better than countries which follow economic model Y.
If there are any success stories in this, these would be Taiwan, Hong Kong, and Singapore.
Tell me more about how this "proves" that we now need to adopt socialism, or stop trading with China, or go back to the '70s.
Read 4 tweets
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Kristian Niemietz shamelessly politicises stuff
@K_Niemietz
I see everyone is now accusing everyone else of "politicising" Coronavirus, or using it for "political point-scoring".
Couple of thoughts on that.
There is, of course, a huge asymmetry. We always think our political opponents are "politicising" events, and that they're being...
...cynical, manipulative, and disingenuous for doing so. But nobody ever thinks that THEY are politicising anything. What, ME? No, I'M just spelling out the obvious political implications!
Quite often, we just disagree on the extent to which something is political. Let's say...
...something bad, X, happens. Some of us will see X as simply an unfortunate event. It could have happened under any government, and it could have happened under any system. It has no major policy implications.
But others WILL see X as the result of policy choices.
Read 15 tweets
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Kristian Niemietz 🤡🤡🤡
@K_Niemietz
Looks like "social democrat" is now becoming a slur, on the commie-Left.
Which makes sense. Corbo's commie outriders have long defined their idea of socialism specifically in opposition to social democracy.
People on what little remains of a non-communist Left in the UK try hard to blind themselves to this fact. But it's nonetheless true.
"Today, the radical left in the UK [...] is calling not for social democracy but for democratic socialism. [...] [T]he former means the taxation [...] of private enterprise, while the latter means the democratic ownership of most large corporations and financial institutions"
Read 8 tweets

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