A Few Things Demonstrated In This Virus Episode

May 2, 2020

This virus caused governments to spring into action. Their actions were largely laden with errors. Why?

In making the many mistakes that they have made in wielding their powers, the politicians and officials in governments relied upon experts. The experts made big mistakes in their advice. Why? Their information was lacking, uncertain and bad. Furthermore, the experts’ models made bad predictions. Lacking good information, experts couldn’t be expert. But worse than that, the experts weren’t expert. They had feet of clay. They proved to be empty suits. They could not, faced with realities of uncertainty, make judgments any better than a layman. Indeed, their judgments have been worse.

Government politicians and officials didn’t display any marked capacity to exercise sound judgment either, that is, to steer clear of expert opinions that turned out to be wrong and non-expert experts who themselves made bad judgments. By and large, at all levels of government, officials lacked abilities to make sound decisions under conditions of notable uncertainty, to avoid panic, and to fasten upon correct paths of action. When we look back, we will find that their judgments were awful.

One thing demonstrated by this episode is the incompetence of governments in dealing with the virus. This is but an example of the incompetence of governments in dealing with everything else they are given powers to deal with.

A second thing being demonstrated is that the politicians, while unable to exercise good judgments on our behalf, are highly competent at devising stories critical of their opponents, while attempting to portray themselves as excellent and strong leaders who are free of blame. Politicians will also attempt to enact other parts of their agenda either as blackmail or by making irrelevant connections to the virus.

A third thing this episode shows with stark clarity is that governments do not give a damn about rights. Given the chance via some crisis, real or manufactured, governments will rapidly extend their powers and crush liberties right and left.

A fourth thing shown clearly is that major media are absolutely horrible. They stoke panic. Heavily influenced by political biases, they distort facts and reports. They are almost entirely unreliable in dealing with government powers. They are much closer to being propaganda arms of governments than independent journalists.

We knew all these things before this virus episode. We didn’t do much of anything to change the system to prevent their happening again. Will we now know better, learn a lesson and take it to heart?

The lesson is to curtail government powers every which way we can.

The number one political priority once this episode is over should be to FREE UP the health markets. Will this occur? The public doesn’t want it to happen. The Democrats want the opposite. The Republicans don’t want to lose their offices, so they go along with the status quo and the public’s general acceptance of the existing system. There is no lobby to speak of that attracts public support to get rid of the public health system, get rid of Medicare, get rid of doctor certification, get rid of the FDA, get rid of the CDC, pull Big Pharma’s teeth, and assure that liability laws promote free markets in every part of the health care sector.

What should be done is not likely to get done, not unless a popular mass movement arises with a clear agenda of limiting government. That’s going to take a cadre of persuasive leaders with a clear vision and lots of strength, vigor and tenacity.

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Michael S. Rozeff [send him mail] is a retired Professor of Finance living in East Amherst, New York. He is the author of the free e-book Essays on American Empire: Liberty vs. Domination and the free e-book The U.S. Constitution and Money: Corruption and Decline.