Government=Last Resort: Freedom & Entrepreneurialism Come First

In this newsletter, I discuss the perceived threat of COVID-19 and the delta variant, the economic and fiscal situations in Texas and D.C., and much more to let people prosper.

Hello Friend,

I hope you are living your best life this week! I’d imagine that if we were chatting we would be discussing the latest economic situation, what’s up with this crazy novel coronavirus, and good tasting wines. Thank you for reading and sharing this newsletter because as you know: Free-market capitalism best lets people prosper! I’ll keep cutting through the noise in the media and by politicians to search for ways to achieve more human flourishing, so please subscribe now. I’m almost to 400 subscribers so I’m looking forward to reaching 1,000 very soon. Will you help me?

  • Personal take: The Ginn’s have been doing very well. The boys are keeping us on our toes and Emily is doing well in the early stages of her pregnancy (YES!). We’ve got a long road ahead of us, but we are very blessed. I’ll be 40 later this year so I’m a bit nervous about being a dad again, especially with this one being a girl (two boys already), but I know I’ll be mostly ready by the time she is here next year. Your continued prayer will be most appreciated.

  • Hot take: I’m concerned that authoritarianism is returning because some in government positions think they know better than you. Unfortunately, we’ve already tried that route with the first two waves of COVID-19 and with those mandates and shutdowns doing much more harm than good, and we will learn more about the costs of those destructive actions for years to come. But maybe it was worth it initially because we didn’t quite know what to expect. Maybe. However, I think we could have turned to freedom and entrepreneurialism to solve the problem rather than shutting them down and asking governments with a massive knowledge problem without prices to direct activity to their most highly valued uses to render aid in our time of need. This isn’t to chastise those politicians who made those decisions but rather to help us learn from our mistakes moving forward. There is a sense of more government control in the air as COVID-19 cases rise from what looks to be mostly the delta variant, however, we should have calm as the case-fatality rate looks to be much lower in this third wave indicating that we are dealing with it better. Sure, we would all love for the case fatality rate (CFR) to be zero, but as with the seasonal flu, and the delta variant is much different, a CFR of zero is unlikely any time soon. So, let’s resort to freedom when all else seems to not be working. In fact, I propose that our first resort is always freedom while government action is the very last resort once we’ve entertained all options. Unfortunately, government action has too often become the first resort and we’ve dealt with the consequences regarding COVID-19, massive federal spending and debt, housing bubble, stock market bubble, permanent inflation, and many other problems currently facing our country.

  • Let’s get to the economic and fiscal situations in Texas and D.C.

TEXAS ECONOMIC AND FISCAL SITUATION

U.S. ECONOMIC AND FISCAL SITUATION

WHAT’S UP WITH COVID-19 IN TEXAS AND BEYOND

Closing Thoughts

Economist Friedrich Hayek knew there would be problems if politicians didn’t let a crisis go to waste. They should let more of those opportunities pass them by:

My prayers this week are focused on the following verse:

Thank you for reading this newsletter and sharing it with your network. I pray that we have more of God’s endurance and encouragement so we can live in harmony with one another. Many blessings to you and yours, and have a prosperous week. Please share this newsletter:

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Vance Ginn, Ph.D. | www.vanceginn.com | #LetPeopleProsper