“The coronavirus outbreak gives us a neat experiment in what happens when humans suddenly dramatically reduce both production and consumption. And, to put it mildly, most of us are not enjoying it one bit. That suggests that instead of the hair shirtery favoured by the Gretas of this world, our best solution is creating the technologies that allow us to keep consuming while also keeping the planet cool with our doing so.”
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“The signature of authoritarianism is not the use of force, but the pathological dependence on deception, often to the extent of becoming self-delusional.” April 8th, 2020 | 23 comments - (Comments are closed)
 “But if this really is the moral equivalent of war then history teaches us that wars can be won on the battlefield but lost on the home front, and just as nations have been defeated because they ran out of food or a revolution broke out, so the Government’s strategy could collapse because the millions of civilians stuck indoors lose patience.” April 6th, 2020 | 76 comments - (Comments are closed)
“There must logically be a point at which the cost of the containment measures, in terms of human welfare and even of fatalities, outweighs the cost of the virus.” April 1st, 2020 | 52 comments - (Comments are closed)
Dr Stephen Davies of the Institute of Economic Affairs likes to make various political/economic predictions, such as on Facebook, and he claims much of our political landscape has changed in ways that shred traditional markers on the map, saying that much of the argument now is no longer between those who want a Big State or a Small One, but about culture and identity. I like and agree with a lot of what he says, but I also think that the recent crisis, and the shock of what it says about the powers of the State, might – I hope – jolt people into realising that we libertarians, banging on about autonomy, property rights and so on, aren’t as irrelevant as is fashionable to claim. The Big State/Small State difference still counts for a lot. This argument should be made. Free societies, as we can point out, are often better at stepping up to change and emergencies than states often are. Not everyone worships at the altar of socialised medicine. And boy, have we learned the value of free press and scrutiny, if only by seeing what happens in China, when those things don’t exist. Consider, even Formula 1 motor racing, that symbol of toxic masculine love of going very fast in noisy cars, is using its technical skills to meet the pandemic challenge. Libertarians should point out how entrepreneurial gusto, not the clunky hand of Whitehall, is what needs to be celebrated. And we certainly need to challenge the narrative of how marvellous China has been in locking things down. Turns out that it has been a shitshow. Dr Davies has given a list of trends and forces he thinks will accelerate and turn as a result, and some of his predictions make me alarmed, others less so. Here are some of my own predictions. Dear readers: do add your own. Here goes: A big push to divert supply chains from China; more diversification around this. Maybe some pullback from just-in-time inventory but I don’t expect a total shift – the losses in efficiency and living standards are too big. Less business travel and some tourism via air; more requirements that passengers carry medical data with them. Airport security to increasingly entail “medical security” and there will be demands that airports are more hygienic with cleaner air systems. Continued “re-shoring” of some manufacturing. It is happening already because making stuff locally is getting easier with modern tech. There will be pressure to monetise the enormous amounts of public debt. We could have a Japan-style stagnation lasting for two decades. Not sure if we get hyperinflation. Expect more commentary about gold, the need for hard money, etc. Far more telecommuting and remote working. Some central business districts will have to adjust; some skyscrapers will struggle to fill up. Suburbs and cars are back: who wants to live in a cramped city and rely on unhealthy, crammed public transport if you can live in a nice house, work from home and have a garden? The anti-car lobby has lost – people are glad they have cars. Issue: will the planning system free up to allow lots more homes with gardens etc to be built? I hope so. The “woke” agenda is losing a lot of steam. It was happening already. Even remote learning will dent traditional educational attendance and power structures. That is a good thing. The European Union and other transnational organisations, including the World Health Organisation, have been useless, and it turns out in the WHO’s case, all too cozy to China over Taiwan. The actions of UK and other police in this pandemic have caused very bad publicity for the cops. It was bad already. It is getting worse. Scientists who claim to have all the answers and claim the science is “settled” will encounter even more resistance. In a funny way this virus is bad news for the dark Greens. Extinction Rebellion’s vision of life has been rammed down people’s throats these past few weeks. Attacks on Big Tech and demands for anti-trust will wane. The internet has had a good crisis. It kept us going. The value of people with vocational skills, earned without vast sums of student debt, will appreciate; the education “bubble” of arts grads with high debt/lower salary will burst. This will also hurt the “woke” culture and the nonsense of what’s been happening on our campuses. Identity politics is not going away without a fight, however. Classical liberals/libertarians haven’t really woken up fully to how much the victories of the 80s, 90s and even some of the Noughties have been compromised, sometimes by sheer complacency. We need to wake up, to do more of the intellectual heavy lifting. I hope the present situation galvanises more thought, activism and writing. Celebrity culture looks to be on the back foot. It may return, but the Hollyweird culture is in really serious trouble. Crappy remakes of films, Weinstein, etc, etc. People might actually be healthier: all that focusing on taking a daily walk, eating at home, thinking about “underlying health conditions”, might have a positive effect. It is a wake-up call. Mainstream religions might get a revival. I wonder how many atheists have, sort of, prayed recently. Public sports events, though, will attract sell-out crowds. Imagine if you are a rugby, cricket or football fan and denied the ability to see your teams and in the case of Liverpool, for example, robbed of the ability to be the unchallenged winner of its season. Those fans will be desperate to go back. March 31st, 2020 | 23 comments - (Comments are closed)
Now that the idea of “herd immunity” has been attacked, even though it seems lots of scientists seem to support the idea, does that mean it now makes sense to challenge claims that “the science is settled” on a particular topic? Just thought I’d ask. March 29th, 2020 | 30 comments - (Comments are closed)
“President Trump can’t do right by some critics no matter what he does. For three years he’s been denounced as a reckless authoritarian, and now he’s attacked for not being authoritarian enough by refusing to commandeer American industry. The truth is that private industry is responding to the coronavirus without command and control by the federal government.” The Wall Street Journal’s editorial board. Unfortunately, no-one is likely to find a cure for Trump Derangement Syndrome this side of the heat death of the universe. I have taken the liberty of adding this excellent comment by Ross Clark, in the Daily Telegraph today. He seems to be one of the saner voices out there:
March 25th, 2020 | 69 comments - (Comments are closed)
“Two decades of the precautionary principle as the key policy tool for managing uncertainties has neutered risk management capacities by offering, as the only approach, the systematic removal of any exposure to any hazard. As the risk-averse precautionary mindset cements itself, more and more of us have become passive docilians waiting to be nannied.” – David Zaruk, writing in an online science website which I hadn’t come across before until a commentator on this blog flagged it. Thanks! March 24th, 2020 | 10 comments - (Comments are closed)
Ross Clark, Spectator (behind paywall). A couple more:
The more I read, the more it seems to me that randomised testing, as Clark writes, is crucial, not least in reducing hysteria and the effects that hysteria is having, and will continue to have, on our society and business. The costs, in terms of stress, the destruction of businesses and so much effort, needs to be weighed. I have come across a few comments on social media, of the passive/aggressive sort, that “it is so amusing to see all these experts all over social media on epidemics” – the implication being that the mass public should shut up, “stay in your lane” and let the men/women in white coats take charge. The problem with this however is what happens if the experts disagree, or if their policy advice causes so much damage, including to the liberties and welfare of the citizenry, that a democratically elected politician has to make a judgement call? We don’t, rightly, outsource vast coercive powers to everyone who claims to be an expert on something. That’s not how it is supposed to work. March 23rd, 2020 | 28 comments - (Comments are closed)
This is probably one of the few places in the internet, never mind the regular media, where people can get to debate the wonders of socialised medicine without being under the burden of proving that they are not evil. In the UK, we have had since the late 1940s a healthcare system that dominates the field, with a relatively small private sector. The National Health Service, funded from tax and run as a monopoly, with politicians and civil servants allocating resources, was modeled, as so many post-war institutions were, on the idea of state central planning. The narrative of the time was that planning was the way to go, unlike all that messy, chaotic “laissez faire” that had been associated, however wrongly, with the Great Depression and so on. (Here is a good paper on the NHS by the Institute of Economic Affairs.) I can also recommend this book, by James Bartholomew on the many problems with the UK welfare state. The NHS, like many of the other socialised medical systems in much of the developed world, faces the monstrous coronavirus. And so much of the current policy approach – the UK is going into more of a lockdown as of this weekend – is designed, so it is said, to flatten the potential surge of infections and deaths, so that the NHS and other systems don’t collapse. The cost/benefit calculation is being made that it is better to smash the world economy, to force millions into idleness, possibly for months, and tide them over with cash payments funded from vast amounts of debt, than it is to allow the NHS/other to be forced into a nightmare of running out of resources. In some ways I can see the merits of preventing a horrendous surge in deaths; I also think that saving the NHS and other models of healthcare is a sort of virility test of today’s Welfare States. Nothing can be done to admit they have limits, even if that means economic damage on a major scale. That cost/benefit calculation may look just about defensible now, but what about in two months’ time, particularly if there is no real sign of a deceleration in the virus, but if the struggle to buy even basic household necessities leaves a lot of people in real hardship? I assume that farmers and others in the food production business are not being told to stay at home, but such is the level of madness about this situation that I wonder. I’d like to know how locking people in their homes for months is going to be enforced. There are also health considerations to be taken into account by such a lock-down, particularly if it goes on for months on end. Humanity is not designed for prison, and those of us in relatively free societies (“relatively” being the operative word) will move from being restless to downright homicidal of this goes on into the summer and beyond. There aren’t enough police to keep everyone cooped up in their homes. Those bastards in the Chinese Communist Party have a lot to answer for. And yes, COVID-19 began there, and it shows how derelict some of our media/political class has become that is frowned upon to point that out. (The anger is rising, and will have major consequences for our geopolitics.) It would be rather ironic to think that something unleashed by a Communist state, whether by accident or whatever, has put such pressure on Welfare State societies in the West. Final point: I was due to give a talk tonight at Brian Micklethwait’s place about the recent calls for anti-trust assaults on the Big Techs such as Facebook, Google and Amazon, and I was going to look at parallels with the campaign to break up J D Rockefeller’s Standard Oil more than a century ago. One thing you can say about Rockefeller, was that as well as being a brilliant businessman, and philanthropist in the area of healthcare, among others, he also understood the importance of integrated supply chains in commerce. He’d have looked at our current predicament with interest. March 20th, 2020 | 43 comments - (Comments are closed)
A few years ago I remember the arrival of a sort of clock that measured the terrifying rise of the UK’s public debt, a pile that has got much heavier and scarier as a result of the splurge of spending enacted by the new UK finance minister last week. The idea of some dial on the dashboard of our lives, so to speak, which rises constantly, or maybe eventually slows and reverts, is an interesting one. In the media, some newspapers seem to have these daily counts of the number of people dying of coronavirus. On some of the TV channels there is a scrolling feed at the bottom of the screen (I saw this on Sky News, which is arguably even worse than the BBC these days) do this. It was rather like the tickers for the level of the S&P 500 or the latest cricket scores from Lords. A writer on Linkedin, whom I quote from here but I won’t name as I am not sure I have permission, has written this, and I do sort of sympathise:
Of course the State should not in any way ban or try and interfere with such reporting, whether it is crass, hysterical, or sober. At least in the West the media is covering this outbreak heavily, whereas in China, as appears to be the case, people who blew the whistle on what was going on have been punished or just disappeared. March 17th, 2020 | 71 comments - (Comments are closed)
With the virus encouraging more people and businesses to develop online, remote working models, it is going to put a premium on things like high-speed, reliable internet, video, two-way video, etc. And paradoxically, that means digital viruses are even more a threat (and often come from the same places as the biological ones, such as China). So I expect that spending on cyber-security, as well as developing more resilient business models (diversified supply chains, closer-to-home manufacturing of essentials such as medicines), and leaner, more scalable medical services, will increase. That should happen as a free market response, rather than because the State wills it. This virus will be used to bash free trade, encourage protectionism, and so on. But the verities about the division of labour and comparative advantage remain. Complete self-sufficiency cannot be squared with a high standard of living; autarky means a cramped, sclerotic world. There is a reason that the 1970s sitcom, The Good Life, was indeed a comedy because it took the piss out of the idea of freeing oneself of a complex division of labour. It brings enormous costs. Protectionism, like its twin, anti-trust, are often the playthings of sore losers in business, and hit the consumer or smaller-scale entrepreneur. We should not lose sight of the enormous gains made since the end of the Berlin Wall and wider expansion of trade. The current disruption should encourage a more clear-eyed understanding of the risks of doing business with dictatorships and closed societies such as China, and a need to find alternatives where possible. Wholesale theft of intellectual property can no longer be tolerated as easily as in the past. How to deal with that remains a difficult question. On the need to avoid undue risk, it is worth pondering the following: According to the US broadcaster Tucker Carlson, 95 per cent of generic drugs used in the US are imported from China, although I am not sure what he uses as a data source for this. Most good investors understand the need for good portfolio diversification, so the same surely will apply to supply chains after this virus episode. The developments might also encourage, or they should, a more self-reliance culture (people should learn first aid, store more non-perishable foods at home and other necessities), and in countries where people have not become too sheeplike, encourage a more robust approach to self-defence and respect for property. Imagine what happens if looting breaks out in certain situations. Another takeway: this horrible episode has put certain rather silly (at least they are to me) concerns into perspective: PC pronouns for certain genders, “woke” remakes of action films like the much-delayed Bond film, “cancel culture”, etc. It might even remind people that screaming that the world is coming to an end unless we switch off industrial civilisation RIGHT NOW is so silly, and so monstrous, that it blunts the public to legitimate worries out there. Greta needs to put a sock in it, and go back to school and hit the books. And the man formerly known as Prince Harry simply must, for our sanity, fuck off. March 12th, 2020 | 52 comments - (Comments are closed)
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