Fear is a viral monster
“More generally, the newly demonstrated willingness of state officials to destroy, with just a few executive diktats, hundreds of billions of dollars of capital value cannot but push some entrepreneurs and investors into inactivity. Why build, or build grandly, when some pompous governor or mayor – someone whose only ‘skill’ and most intense itch is to exercise power over fellow human beings – can, with a mere signature, smash down a sledgehammer and turn to mush the fruits of years of hard work and sacrifice?”
USAGOLD note: A good question …… perhaps the ultimate economic question in the strange, some would even say alien times in which we live. Donald J. Boudreaux is a professor of economics and a former economics department chair at George Mason University.
Repost from 8-23-2020