Mises Search

One of the most important principles of economics is that people respond to incentives. You get more of whatever you incentivize. You get less of whatever you disincentivize. This is irrefutable. The supplemental unemployment payment does both—it incentivizes people not to work, and simultaneously disincentivizes them from working. The number of

Most states and municipalities have shut down major sectors of their economies in the hope of minimizing the very real medical damage from the spread of the coronavirus. The benefit is assumed to be in saved lives, or at least a “flattened curve” that allows time for hospitals to ramp up capacity and for medical research to find treatments and a