Many Americans are already struggling due to the ripple effects of the COVID-19 lockdown. Just last week, more than 6.6 million Americans filed unemployment claims. Some economists predict that total job losses could reach 47 million. In turn, much of our focus is rightly set on the material devastation—lost salaries, declining assets, and so on. Yet the economic lockdown brings significant social costs as well, reminding us that our economic activity has social value to our civilization that goes well...

It is in the most desperate of times that we must not forget our principles. Globally, we are facing desperate times. In the United States, unemployment rolls doubled in just one week, climbing to 6.6 million unemployment claims for the week ending March 28, 2020. As more Americans are asked to stay at home, many have e unemployed. Additionally, the potential death toll scares us, and we beg for scientists to expedite new tests, anti-viral drugs, and vaccines. These are...

For the Italian Nuova Bussola Quotidiana media outlet, I am publishing a series of short reflections on economics, virtue and spirituality during Lent entitled Lentenomics(go here for the first reflection on “sacrifice”). In the second of these six essays I turned my attention to the virtue of “service.” In summary, I write that “service has a supremely essential role within the economy, and not just in the so-called ‘service industries.’ Markets simply cannot function without services. They are the fundamental...

The relationship between law, morality, and liberty is one of those topics that invariably generates fierce debate. And it usually plays out in very predictable ways. On the one hand, there are some whose first instinct is to lurch for prehensive legal response to any number of moral evils to which legal coercion may not be the most optimal or even just response: “There ought to be a law against that!” The free choice to lie, for example, is always...

Millions of schoolchildren are currently out of school under state orders intended to slow the spread of the coronavirus. However, in Oregon, at least 13,000 students are being unnecessarily denied an education to benefit traditional public schools’ monopoly over education. Earlier this month, Gov. Kate Brown ordered all Oregon’s public schools closed until the end of March. She then extended that deadline to April 28. This would be unexceptional if not for the fact that she also closed online public...

Culturally the first of April – April Fools’ Day – is the same in Italy as in America. It’s a day of practical jokes and laughs. Only here it’s called April Fish Day, because it is related to the ancient end of the Pisces or Fish sign in the zodiac. It also the day of jokes which Italians inherited from the ancient Roman feast of Hilaria (hilarious in English) celebrated around the spring equinox. During the Hilaria celebrations Romans would...

At some point, not today but perhaps in the next few weeks, we will be having more conversations about getting people back to work and restoring the $21 trillion U.S. economy. Some signs indicate the coronavirus pandemic may turn soon in the United States. Even if the entire nation makes an all-out effort to restrict contact, coronavirus deaths will peak in the next two weeks, with patients overwhelming hospitals in most states, according to a University of Washington study. The...

As epidemiologists scramble to mitigate the impact of the coronavirus pandemic on public health, economists are evaluating its impact on the global economy. Experts in both fields absorb the flurry of data, interpret it through their scientific training and the lens of similar historical events, and endeavor to mend a path forward. Yet everyone knows that ultimately we are in unchartered waters, and possible es vary widely. As an economist, I am stunned by the nearly 10 million jobless claims...

The following translation is an exclusive interview that appeared in the weekend edition of the northern Italian daily La Nuova Bussola Quotidiana, which has fiercely defended Italy’s religious freedom throughout the ongoing coronavirus pandemic. Correspondent Andrea Zambrano interviewed a Roman Catholic parish priest, Rev. Domenico Cirigliano, who was slapped with a €400 fine by local police for processing with a “miraculous” crucifix. Rev. Cirigliano said he was performing essential “work” by blessing the town of Rocca Imperiale in order to...

Gaetano Rebecchini was a great Italian, an extraordinary witness to our traditional national values, while challenging politically correctness and representing the best of our country. Today, Italy lost a good, honest, courageous person, an example for present and future generations e. Read More… Today was the first time I learned of someone I know and respect who lost his battle to the novel coronavirus (COVID-19). He was a 95 year-old political warrior and defender of freedom: Gaetano Rebecchini. He returned...