The global economy was booming as 2020 dawned, but within a few short months wreckage, death, and desperation borne of economic contraction were the new normal. What happened?
In When Politicians Panicked, economic commentator John Tamny tells the heart-wrenching story of a time when politicians were tragically relieved of basic common sense in their response to the new coronavirus.
In March of 2020, the virus quickly became a major news item as political panic about it traveled around the world. Even though anecdotal and market-based evidence from the virus's epicenter indicated very low lethality, politicians quickly imposed economy-crushing lockdowns on the rather specious assumption that unemployment, bankruptcy, and starvation would somehow halt the virus's spread.
Tamny methodically dismantles the political consensus by showing how economic growth has long been the first and last answer to death and disease. He then shows how politicians, having mindlessly crushed a growing economy, proceeded to double down on their mistakes by throwing taxpayer money at their shocking errors.
Throughout When Politicians Panicked, Tamny makes a relentless case that free people don't just produce the wealth that renders today's killers yesterday's news. They also produce crucial information about health threats that shine a light on that which threatens us. Lockdowns suffocate economic progress, but they also blind us to how we can progress—as Tamny makes plain in what will go down as an essential history for anyone seeking to understand the coronavirus panic of 2020.
