Academic paper by Professor Philipp Bagus "COVID-19 and the Political Economy of Mass Hysteria" is the one journal article you need to read this year. In only about ten pages it makes the devastating case that perverse political incentives—along with a nexus of state-connected media and scientists—combine to create and amplify "public health" hysteria. Echoing Hoppe and public choice theory, Bagus explains how politicians enjoy asymmetric rewards for exaggerating risks and creating fear. The result is gross policy errors we will all pay for over many decades.
#COVID #Bagus
Full video, licensed under creative common: https://www.youtube.com/watch?v=sdxUYaIeXKA
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