« March 2020 | Main | May 2020 »

April 2020

"Protests show two Americas — those who lost their jobs and those still getting paid"

Glenn Reynolds with a fine column:

There really are two Americas here: Those still getting a paycheck from government, corporations or universities, and those who are unemployed, or seeing their small businesses suffer due to shutdowns. And the America still getting paid is, so far, not showing a whole lot of sympathy for the America that isn’t.

"Capitalism to the Rescue: The present crisis is a bracing reminder of the social value of free enterprise."

Some of us don't need a "reminder". Some of us do.

What has counted during the crisis is the ability of certain businesses to carry out their core functions at a very high level: the efficiency with which Amazon can deliver essential goods to our front doors; the ability of communications firms to give us socially distant social lives; and, above all else, the ingenuity of pharmaceutical companies searching for treatments, better testing, and a vaccine. In all these cases, the pursuit of shareholders’ best interests looks much less parasitic and much more aligned with society’s wider interests than it might have appeared before the crisis.

Related: "No, Capitalism Did Not Fail".