Saturday, April 25, 2020

Recommended: The Economy Will Reopen Sooner Than You Think

For those who don't know what a "Hobson's choice" is, it refers to a 16th century livery stable owner in Cambridge, England, who had the rule that a prospective customer could either rent the horse in the stall nearest the door or not rent any horse. (That was to prevent everyone from always renting his best horses and thus overusing them). A Hobson's choice, then, is to either take the option offered or get nothing.

I mention this as a prelude to recommending the recent article The Economy Will Reopen Sooner Than You Think in The American Spectator.  The author argues that widespread reliable testing is not likely to be available soon, whatever politicians promise, so waiting for its appearance before reopening the economy is simply unrealistic. We are faced, he argues, with a real Hobson's choice - re-open the economy and face the consequences or sink the economy for good. His reasoning is thoughtful and cogent, and I haven't really done it justice with my short summary above, so I recommend reading the whole article.