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As I write, Britain and a whole host of other countries are in lockdown. Although there has been a loosening of arrangements in recent weeks, at its outset people were asked/told to stay indoors and go out as little as possible. Many people had - and continue to have - a large proportion of their wages paid by the state.

Brian and I talk about this crisis which has now been going on for 10 weeks. Did I say talk? Meander might be a better way of putting it. We talk about safety, analogies with war, Ludwig Erhard, the capitalism-needs-war argument and even child-rearing. We agree - thus making for a dull conversation - that there are a great deal of unknowns and it is thus difficult to be sure of anything.

Where we disagree is on whether the baked-into-the-cake economic collapse is a good thing or a bad thing. Being an Austrian purist I say that the economy is built on foundations of sand and the sooner it collapses the better. Brian is not so sure. But we agree - dullsville once again - that the way out is the same way the West Germans chose in the late 1940s. Whether or not we get that is another thing.

Notes

  1. Ludwig Erhard 
  2. I may have been wrong about the ironwork 

  3. Here is an example of what price control does 

  4. I think this is the J.P.Floru book Brian is referring to 

  5. It occurs to me that the great crisp surplus may have been due to the great party shortage and not to a mass conversion to the benefits of healthy eating.

 

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