Study: Lockdowns Had Largest Impact in Destroying Economic Activity – Foundation for Economic Education

Study: Lockdowns Had Largest Impact in Destroying Economic Activity – Foundation for Economic Education

Economists Robert W. Fairlie and Frank M. Fossen used state data from all taxable sales in California during the first two quarters of 2020, finding a drop of $152 billion in the second quarter alone, a 17.5 percent decline from the previous quarter.

Leading the way in sales losses was the accommodation sector (91 percent), followed by bars (86 percent). Entertainment venues saw sales drop 83 percent, while full-service restaurants saw a decline of 61 percent.

Early in 2020 Ryan McMaken of the Mises Institute pointed out that the 2020 pandemic was starkly different from the pandemics of 1918 and 1957-58, both of which were incredibly deadly.

“Yet we will see that neither produced economic damage on a scale we now see as a result of the government-mandated lockdowns,” McMaken observed. “This thoroughly undermines the claims that the lockdowns are only a minor factor in economic destruction, and that the virus itself is the real culprit.”

“The horror of a command economy is not that officials will make mistakes,” Mamet observed, “but that those mistakes will never be acknowledged or corrected.”

READ THE FULL STORY: Study: Lockdowns Had Largest Impact in Destroying Economic Activity – Foundation for Economic Education

About The Author

CT Liberty: About Us

CT Liberty Rally is an active, grassroots organization in Connecticut, promoting the American ideals of Liberty, Freedom & Individual Rights, and addressing liberty issues affecting citizens of our state.

Follow CT Liberty:

Newsletter Sign-Up


Click below to sign the petition: Restore Vaccination Religious Exemption

Events

April 2024

SU
MO
TU
WE
TH
FR
SA
31
1
2
3
4
5
6
Events for April

1st

No Events
Events for April

2nd

No Events
Events for April

3rd

No Events
Events for April

4th

No Events
Events for April

5th

No Events
Events for April

6th

No Events
7
8
9
10
11
12
13
Events for April

7th

No Events
Events for April

8th

No Events
Events for April

9th

No Events
Events for April

10th

Events for April

11th

No Events
Events for April

12th

No Events
Events for April

13th

14
15
16
17
18
19
20
Events for April

14th

No Events
Events for April

15th

No Events
Events for April

16th

No Events
Events for April

17th

No Events
Events for April

18th

No Events
Events for April

19th

No Events
Events for April

20th

No Events
21
22
23
24
25
26
27
Events for April

21st

No Events
Events for April

22nd

No Events
Events for April

23rd

No Events
Events for April

24th

No Events
Events for April

25th

No Events
Events for April

26th

No Events
Events for April

27th

No Events
28
29
30
1
2
3
4
Events for April

28th

No Events
Events for April

29th

No Events
Events for April

30th

No Events
Instagram Feed
Something is wrong.
Instagram token error.
Follow
1