Alex Tabarrok reviews The Big Fail. Best sentence: “Anti-lockdown was probably the dominant expert opinion prior to COVID.”
Biden invokes the Defense Production Act to stem drug shortages. This is a Cold War-era law that lets the government require private companies to make materials deemed necessary for national defense.
Jason Furman on the 2017 Trump tax reform bill: It showed “taxes actually do matter,” adding that it provided “the most convincing estimates of the response of investment to corporate tax changes that I have ever seen.”