RECOMMENDED READING
American Compass Releases Conservative Economic Agenda for 118th Congress
Hayek’s Broken Promise
Comparative Disadvantage

History shows that big national shocks have a way of changing the role of government in lasting ways—and any shock as big as the coronavirus pandemic inevitably will alter political life and philosophies in America. …

Oren Cass, who leads American Compass, a new organization devoted to revising conservative views on economic policy, argued that “one lesson we can and should learn from all this is that you can’t just flip a switch on strong, effective government when you need it. Just as you can’t get rid of the Defense Department in times of peace and then reconstitute it from scratch when attacked, you can’t push for the smallest possible government in normal times and expect to be ready with a competent response in an emergency.”

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Recommended Reading
American Compass Releases Conservative Economic Agenda for 118th Congress

Today, American Compass is releasing New Direction: Conservative Principles & Policies for the 118th Congress, an agenda for economic renewal, focused on the interests of worker, their families and communities, and the nation.

Hayek’s Broken Promise

It is a tragedy that Friedrich Hayek’s excesses, invested with the authority of his (deserved) reputation, became the unexamined default for right-of-center economic thinking in America.

The resulting orthodoxy too often combines a Panglossian insistence on defending market outcomes regardless of their quality with a reflexive belief that policy intervention can only be distortive for the worse.

But when it comes to international trade’s effect on the American economy, a knowing assertion that nothing should be done, followed by yet another “analysis” working backward to an argument that nothing needs doing, will no longer do.

Comparative Disadvantage

If comparative advantage is created rather than discovered, refusing to play the game has consequences.