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De Omnibus Dubitandum - Lux Veritas

Showing posts with label Mises Institute. Show all posts
Showing posts with label Mises Institute. Show all posts

Friday, October 1, 2021

Why "Natural Immunity" Is a Political Problem for the Regime

Ryan McMaken 09/21/2021 56 Comments @ Mises Institute

Since 2020, public health technocrats and their allies among elected officials have clung to the position that absolutely every person who can possibly get a covid vaccine should get one.

Both the Mayo Clinic website and the  Centers for Disease Control and Prevention website, for example, insist that “research has not yet shown” that people who have recovered from covid have any sort of reliable protection. Moreover, the CDC page points to a single study from Kentucky claiming that people with natural immunity are more than twice as likely to contract covid again, compared to people who have been vaccinated.

This narrative is reflected in the fact that the Biden administration’s vaccine mandates are a one-size-fits-all policy insisting that virtually all adults, regardless of whether or not they’ve already had the disease, receive a covid vaccine. The official position is apparently this: nothing except the vaccine can provide any sort of resistance or immunity. So get a vaccine. No exceptions!

Health technocrats have repeatedly insisted that “the science” points unambiguously toward everyone receiving a vaccine, even to the point of pushing vaccines for children. All this in spite of the fact the risk to children from covid is far less than the risk a dozen common daily risks, such as riding in an automobile.

The regime has attached itself closely to a vaccinate-everybody-no-matter-what policy, and a sudden u-turn would be politically problematic. So it's no wonder there's so little interest in the topic.

Indeed, in a September 10 interview, senior covid technocrat Anthony Fauci claimed that the matter of natural immunity was not even being discussed at government health agencies. Fauci’s response suggested that the facts of natural immunity warranted discussion at some point in the future. But the comment certainly fit the dominant regime narrative nonetheless: the facts of natural immunity don’t matter for now. Everyone should just get vaccinated:

CNN's Sanjay Gupta asked if people who have already recovered from COVID-19 should still be required to get the vaccine.

"I don't have a really firm answer for you on that," [Fauci] said Thursday on CNN. "I think that is something that we need to sit down and discuss seriously."

Maybe someday they’ll get to talking about it.

But some physicians aren’t as obsessed with pushing vaccine mandates as Anthony Fauci, and the evidence in favor of natural immunity is becoming so undeniable that even mainstream publications are starting to admit it.

In an op-ed for the Washington Post last week, Marty Makary of the Johns Hopkins School of Medicine argues that the medical profession has hurt its credibility in pretending that natural immunity is virtually irrelevant to the covid equation. Moreover, the dogmatic "get vaccinated" position constitutes a lack of honesty about the data. Rather, Makary concludes:

[W]e can encourage all Americans to get vaccinated while still being honest about the data. In my clinical experience, I have found patients to be extremely forgiving with evolving data if you are honest and transparent with them. Yet, when asked the common question, “I’ve recovered from covid, is it absolutely essential that I get vaccinated?” many public health officials have put aside the data and responded with a synchronized “yes,” even as studies have shown that reinfections are rare and often asymptomatic or mild when they do occur.

And what are these studies? Makary continues:

More than 15 studies have demonstrated the power of immunity acquired by previously having the virus. A 700,000-person study from Israel two weeks ago found that those who had experienced prior infections were 27 times less likely to get a second symptomatic covid infection than those who were vaccinated. This affirmed a June Cleveland Clinic study of health-care workers (who are often exposed to the virus), in which none who had previously tested positive for the coronavirus got reinfected. The study authors concluded that “individuals who have had SARS-CoV-2 infection are unlikely to benefit from covid-19 vaccination.” And in May, a Washington University study found that even a mild covid infection resulted in long-lasting immunity.

The policy bias in favor of vaccines ignores many other facts as well, such as the relative risks of vaccines, especially for the young:

The current Centers for Disease Control and Prevention position about vaccinating children also dismisses the benefits of natural immunity. The Los Angeles County School District recently mandated vaccines for students ages 12 and up who want to learn in person. But young people are less likely to suffer severe or long-lasting symptoms from covid-19 than adults, and have experienced rare heart complications from the vaccines. In Israel, heart inflammation has been observed in between 1 in 3,000 and 1 in 6,000 males age 16 to 24; the CDC has confirmed 854 reports nationally in people age 30 and younger who got the vaccine.

A second dose of the two-shot mRNA vaccine like that produced by Pfizer and Moderna may not even be necessary in children who had covid. Since February, Israel’s Health Ministry has been recommending that anyone, adult or adolescent, who has recovered from covid-19 receive a only single mRNA vaccine dose, instead of two. Even though the risk of severe illness during a reinfection is exceedingly low, some data has demonstrated a slight benefit to one dose in this situation. Other countries use a similar approach. The United States could adopt this strategy now as a reasonable next step in transitioning from an overly rigid to a more flexible vaccine requirement policy. For comparison, the CDC has long recommended that kids do not get the chickenpox vaccine if they had chickenpox infection in the past.

The nonscientific, ideology-induced blind spot for natural immunity also prompted The BMJ  (the journal of the British Medical Association) to note that "[w]hen the vaccine rollout began in mid-December 2020, more than one quarter of Americans—91 million—had been infected with SARS-CoV-2…. As of this May, that proportion had risen to more than a third of the population, including 44% of adults aged 18–59."

And yet, the authors note this fact doesn't appear to be a part of any policy discussion at all: 

The substantial number of infections, coupled with the increasing scientific evidence that natural immunity was durable, led some medical observers to ask why natural immunity didn’t seem to be factored into decisions about prioritising vaccination.

This problem is reflected in the Biden administration’s drive for booster shots—announced in mid-August—even before there was any clinical research on booster shots at all. Even by mid-September, as one hospital’s chief medical officer put it, “the data is not compelling one way or another.”

But those sorts of details don’t trouble federal “public health” officials, and the Biden administration quickly moved toward pushing booster shots for everyone. 

This Is Why There Should Be No Mandatory Medical Treatment

Of course, mandating vaccines—like mandating any medical treatment—would still be immoral even if we could list a dozen studies suggesting boosters are a boon and that natural immunity is no good.

What if there were twenty-five studies "proving" vaccines are better than natural immunity, but only twenty studies "proving" natural immunity is better? Would coercive vaccine mandates then suddenly be justified? Unfortunately, that's exactly how many advocates for repressive covid policies think the world should work. For these people, policy is just a matter of adding up the number of studies "proving" their side is right, and then claiming this justifies forcing mandatory medications on millions of human beings. 

(It never works in reverse, of course. The fact that there's a lot of evidence—as Makary points out—against vaccines for those who have natural immunity, the dominant narrative is nonetheless that vaccines are “necessary” and “worth it” for everybody, always and everywhere.)

In the real world, however, many medications—including these new vaccines—come with risks that must be weighed against potential benefits. These decisions can only be made at the individual level, where patients must make their own decisions about what substances to put into their own bodies. In other words, blanket policies proclaiming "everyone must receive this medical treatment immediately, or else" contradicts the realities of the uncertainties and varying risk levels that affect individuals. The facts of uncertainty and informed consent were once considered a mainstay of medical ethics—and of any political ideology that actually respects self-determination and basic human rights. Unfortunately, the philosophy of "public health" appears to be uninterested in such trivialities.

At this point, it would be embarrassing for the regime to admit what actual scientific inquiry has shown: that natural immunity is generally superior to receiving the vaccine. The regime doesn't like to be embarrassed, and neither do the countless doctors and nurses who have long toed the regime's political line. So expect more of the same. 

[Read More: "Debunking Biden's Claim We Must 'Protect the Vaccinated from the Unvaccinated'" by Ryan McMaken]

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Contact Ryan McMaken

Ryan McMaken is a senior editor at the Mises Institute. Send him your article submissions for the Mises Wire and Power and Market, but read article guidelines first.

Thursday, August 29, 2019

Why Socialist Calculation Is Always Impossible

08/28/2019

The Austrian school of economics, marked by its unique causal-realist approach, contributed many important insights to the development of economic science. However, regardless of their profound contribution, the Austrian school has been usually charged as “unscientific” due to the lack of mathematical models in the Austrian analysis.

Yet, calculations are being made everywhere in the Austrian framework, since the vital core of their theories is the importance of calculation for economic agents’ actions. Certainly, the concept of the impossibility of a central-planned socialist regime was the most fully elaboration of economic calculations.

The concept of economic calculation was first proposed by Ludwig von Mises in his book Economic Calculation in the Socialist Commonwealth published in 1920. Prior to Mises’s analysis, there were numerous social thinkers who criticized the operation of a socialist economy since for them, such an economy violates the fundamental nature of human beings. Nevertheless, this criticism was purely based on ethical and philosophical grounds.

Mises was one of the first, along with Max Weber and Boris Brutzkus, who independently proposed an entirely different analysis from a purely economic perspective. However, Weber somehow constructed an ideal-type psychological model,1 and from which he eventually came to the conclusion that a socialist economy is “wasteful” and “inefficient".2 On the other hand, Brutzkus dealt only with concrete problems of Russia.3

Yet, “although to some extent Max Weber and Professor Brutzkus share the credit of having pointed out independently the central problem of the economics of socialism, it was the more complete and systematic exposition of Professor Mises.”4 For Mises, such an economy is not just wasteful and inefficient, it is impossible from a purely theoretical point of view.

Mises’s analysis can be summarized as follow..................To Read More

Sunday, November 11, 2018

The Tragedy of America's Entry into World War I



This week some 80 world dignitaries including Presidents Putin, Trump, and Chancellor Merkel are gathering in France to mark the culmination of year-long remembrances of the centenary of the end of “the Great War” on November 11, 1918 – later labeled and known to every American high school history student as World War I. While at least 17 million people, including more than 116,000 Americans, died in this war — and millions more were wounded, gassed, or maimed — it’s a conflict widely misunderstood today. Indeed, because of World War II’s size and scope, cultural influence, and greater media coverage and capture, the First World War is often called “the forgotten war.”

Yet it was a cataclysmic event in its own right that both foreshadowed more intense and violent warfare in the 20th century, and fueled the growth of gargantuan central government in the United States. Most crucially, however, it was a war that should never have been fought — its causal origins and assignment of guilt for same are still a hot topic of debate a century later, a fact that alone attests to its superfluity — and one that, in any case, the United States should never have entered. These are disturbing theses about the war that will not be remembered by any of the global elites in Paris this weekend, but given the lessons for today, Americans should learn about them so as to demand of their Beltway solons wiser policy choices in the future. What follows is a short summary of America’s involvement in the war and lessons for today.

Origins of the Conflict in 1914 ............... Read More

The Next Financial Crisis

11/10/2018

We have been reading numerous comments recently about a forthcoming recession and the next crisis, particularly on the tenth anniversary of the collapse of Lehman Brothers. The question is not whether there will be a crisis, but when. In the past fifty years, we have seen more than eight global crises and many more local ones, so the likelihood of another one is quite high. Not just because of the years passed since the 2007 crisis, but because the factors that drive a global crisis are all lining up.

What drives a financial crisis? Three factors.
  • Demand-side policies that lead investors and citizens to believe that there is no risk. Complacency and excess risk-taking cannot happen without the existence of a widespread belief that there is some safety net, a government or central bank cushion that will support risky assets. Terms like “search for yield” and “financial repression” come precisely from artificial demand signals created from monetary and political forces.
  • Excessive risk-taking in assets that are perceived as risk-free or bullet-proof. It is impossible to build a bubble on an asset where investors and companies see an extraordinary risk. It must happen under the belief that there is no risk attached to rising valuations because “this time is different”, “fundamentals have changed” or “there is a new paradigm”, sentences we have all hears more times than we should in the past years.
  • The realization that this time is not different. Bubbles do not burst because of one catalyst, as we are told to believe. The 2007-2008 did not start because of Lehman, it was just a symptom of a much wider problem that had started to burst in small doses months before. Excess leverage to a growth cycle that fails to materialize as the consensus expected.
What are the main factors that could trigger the next financial crisis?....................Read More

Saturday, November 10, 2018

World War I as Fulfillment: Power and the Intellectuals

Murray N. Rothbard

I. Introduction

In contrast to older historians who regarded World War I as the destruction of progressive reform, I am convinced that the war came to the United States as the "fulfillment," the culmination, the veritable apotheosis of progressivism in American life.[1] I regard progressivism as basically a movement on behalf of Big Government in all walks of the economy and society, in a fusion or coalition between various groups of big businessmen, led by the House of Morgan, and rising groups of technocratic and statist intellectuals. In this fusion, the values and interests of both groups would be pursued through government.

Big business would be able to use the government to cartelize the economy, restrict competition, and regulate production and prices, and also to be able to wield a militaristic and imperialist foreign policy to force open markets abroad and apply the sword of the State to protect foreign investments. Intellectuals would be able to use the government to restrict entry into their professions and to assume jobs in Big Government to apologize for, and to help plan and staff, government operations. Both groups also believed that, in this fusion, the Big State could be used to harmonize and interpret the "national interest" and thereby provide a "middle way" between the extremes of "dog-eat-dog" laissez faire and the bitter conflicts of proletarian Marxism.

Also animating both groups of progressives was a postmillennial pietist Protestantism that had conquered "Yankee" areas of northern Protestantism by the 1830s and had impelled the pietists to use local, state, and finally federal governments to stamp out "sin," to make America and eventually the world holy, and thereby to bring about the Kingdom of God on earth. The victory of the Bryanite forces at the Democratic national convention of 1896 destroyed the Democratic Party as the vehicle of "liturgical" Roman Catholics and German Lutherans devoted to personal liberty and laissez faire and created the roughly homogenized and relatively non-ideological party system we have today. After the turn of the century, this development created an ideological and power vacuum for the expanding number of progressive technocrats and administrators to fill. In that way, the locus of government shifted from the legislature, at least partially subject to democratic check, to the oligarchic and technocratic executive branch...........To Read More.....

Monday, November 20, 2017

Lyndon Johnson's Terrible Legacy

11/18/2017 Mises Wire

Recently my wife and I spent a morning at the Lyndon Baines Johnson Presidential Library in Austin, Texas. The damage done by this big bully is incalculable. His library reminds us of the start of the blizzard of government expansion during Johnson's presidential term, which lasted from the Kennedy assassination in October 1963 to his decision not to run for a full second term in 1968, which usually is attributed to his failure to end the war in Vietnam.

Johnson was an admirer of FDR and was determined to revive and complete what he believed should have been integral parts to FDR's New Deal. Johnson called his program The Great Society. As if ignorance of the consequences of this socialist expansion of domestic control by government was not enough, LBJ expanded the war in Vietnam, promising America both Guns and Butter. Even today we live with this expansion of government domestic programs and seemingly never-ending wars as the modern Welfare/Warfare state.

Johnson's political philosophy is alive and well today. The US government spends freely on welfare programs at home, and on unwinnable wars abroad...............To Read More

Wednesday, December 18, 2013

We Cannot Predict the Many Ways Freedom Will Improve Our Lives

Mises Daily: Wednesday, December 18, 2013 by Gary Galles
Defenders of liberty are often challenged to supply exhaustive descriptions of what would happen if some aspect of our increasingly government-dictated lives were returned to people’s free choices. What would happen if government didn’t educate our children? What would happen if Social Security didn’t force people to “save” for retirement or Medicare and Medicaid didn’t provide health care? What would happen if the Fed didn’t control the money supply and the FDIC didn’t insure bank deposits? What would happen if the FDA didn’t ensure that food was safe and the EPA didn’t protect us from pollution? What would happen if the SEC didn’t rein in Wall Street and the FTC and antitrust laws didn’t protect us from monopolies and collusion? These questions, and many more like them, make up an almost unending list.
In the face of such questions, it is nonetheless important to recognize that such questions are rhetorical traps designed to put an unachievable burden of proof on voluntary arrangements, short-circuiting the need to deal with the many valid criticisms of coercive policies.
 The trap works because answers to such questions are beyond our competence. But that does not mean statism wins by default. It only means that detailed prediction of what would happen in a future where some government-imposed constraints on freedom are eased is beyond anyone’s knowledge.....To Read More...

Sunday, December 15, 2013

How the Paper Money Experiment Will End

Mises Daily: Friday, December 13, 2013 by Philipp Bagus
A paper currency system contains the seeds of its own destruction. The temptation for the monopolist money producer to increase the money supply is almost irresistible. In such a system with a constantly increasing money supply and, as a consequence, constantly increasing prices, it does not make much sense to save in cash to purchase assets later. A better strategy, given this senario, is to go into debt to purchase assets and pay back the debts later with a devalued currency. Moreover, it makes sense to purchase assets that can later be pledged as collateral to obtain further bank loans. A paper money system leads to excessive debt.   This is especially true of players that can expect that they will be bailed out with newly produced money such as big businesses, banks, and the government…… There are at least seven possibilities:
1. Inflate. 2. Default on Entitlements. 3. Repudiate Debt. 4. Financial Repression. 5. Pay Off Debt. 6. Currency Reform. 7. Bail-in. ....To Read More.....

Who Needs the Debt Ceiling?

Mises Daily: Saturday, December 14, 2013 by Russell Lamberti
US lawmakers reached a budget deal this week that will avert the sequester cuts and shutdowns. These fiscal “roadblocks” supposedly damaged investor confidence in 2013, although clearly no one told equity investors who’ve chased the S&P 500 up 26 percent this year. But even so the budget deal is seen by inflationists as only half the battle won, because it doesn’t deal with the pesky debt ceiling. Unsurprisingly, the old calls for a scrapping of the debt ceiling are being heard afresh.
Last week, The Week ran an opinion piece by John Aziz which argues that America (and all other nations for that matter) should keep borrowing until investors no longer want to lend to it. To this end, it is argued, the US should scrap its debt ceiling because the only debt ceiling it needs is the one imposed by the market. When the market doesn’t want to lend to you anymore, bond yields will rise to such an extent that you can no longer afford to borrow any more money. You will reach your natural, market-determined debt ceiling. According to this line of reasoning, American bond yields are incredibly low, meaning there is no shortage of people willing to lend to Uncle Sam. So Washington should take advantage of these fantastically easy loans and leverage up. Here’s part of the key paragraph from Aziz:….To Read More….

Thursday, December 12, 2013

Fascism Is a Current Political and Economic System

Mises Daily:Monday, December 09, 2013 by David Gordon
Lew Rockwell offers us in Fascism vs. Capitalism a provocative and insightful diagnosis of the political and economic ills of our time. The situation that we face, he says, is dire; but, fortunately, he does not leave us without remedy. To the contrary, the wisdom of Mises, Rothbard, and their colleagues in the Austrian School offers the means to rescue us, and the inspiring leadership of Ron Paul shows us the way to put their ideas into practice.
As the book’s title suggests, Rockwell finds “fascism” to be the key concept needed to analyze the modern American era. He is quick to deflect an objection:
“Fascism” has become a term of general derision and rebuke. It is tossed casually in the direction of anything a critic happens to dislike. ... But fascism is a real concept, not a stick with which to beat opponents arbitrarily. The abuse of this important word undermines its true value as a term referring to a very real phenomenon, and one whose spirit lives on even now.
What, then, is fascism? To Rockwell, it is an aggressive nationalism and imperialism, together with domination of the economy by the state.....To Read More.....

Why Are Obamacare Exchange Policies So Bad?

Mises Daily: Thursday, December 12, 2013 by Hunter Lewis

As millions of people began to lose their old medical insurance policies, President Obama and other Obamacare supporters replied that the new exchange policies were better. This was another lie.

Obamacare exchange medical insurance policies are much worse than previous private policies. They not only restrict access to hospitals and doctors more severely than ever before. They also pay doctors much less, in some cases 50 percent less.

In the past, private insurance companies paid doctors more than Medicare, and Medicare more than Medicaid. No longer. Now private Obamacare policies will pay barely more than Medicaid. Consumers should avoid these new exchange policies if at all possible....To Read More.....

Thursday, November 28, 2013

The Fed Must Inflate

Mises Daily: Thursday, November 28, 2013 by Chris Martenson
The Fed is busy doing everything in its considerable power to get credit (that is, debt) growing again so that we can get back to what it considers to be “normal.”  But the problem is that the recent past was not normal. You may have already seen this next chart. It shows total debt in the U.S. as a percent of GDP: (Source).....
Somewhere right around 1980, things really changed, and debt began climbing far faster than GDP. And that, right there, is the long and the short of why any attempt to continue the behavior that got us to this point is certain to fail. It is simply not possible to grow your debts faster than your income forever. However, that’s been the practice since 1980, and current politicians and Federal Reserve officials developed their opinions about “how the world works” during the 33-year period between 1980 and 2013. 

Put bluntly, they want to get us back on that same track, and as soon as possible. The reason? Because every major power center, be that in D.C. or on Wall Street, tuned their thinking, systems, and sense of entitlement, during that period. And, frankly, a huge number of financial firms and political careers will melt away if and when that credit expansion finally stops. And stop it will; that’s just a mathematical certainty.......To Read More.....

Thursday, September 26, 2013

Liberty Delivers a Better World While Utopians Promise a Perfect One

Mises Daily: Wednesday, September 25, 2013 by Gary Galles
Why are unattainable utopian visions attractive and inspirational to so many while the promises of liberty, under which a vastly-improved society can actually be attained, are so often disregarded? Leonard Read, among America’s most prolific defenders of liberty in the 20th century, considered that question.
In Let Freedom Reign, Read argued that liberty’s failure to gain more adherents than utopian statism derived in substantial measure from the fact that the ends envisioned, rather than the means involved, often motivate people. Unlike the utopian visions, the freedom philosophy recognizes that a system of free markets is an “amoral servant” that does not claim to generate no objectionable results to anyone. For this reason, liberty faces an inspirational disadvantage.
A good illustration of utopianism’s “advantage” over freedom is the utopian’s assertion that he can deliver equality of results (implicitly assumed to be equality at a high level of prosperity). This in turn leads to rationalizations for cutting freedom off at the knees. Yet some forms of inequality are inseparable from astounding social benefits, particularly the massive gains from specialization among people with differing abilities and circumstances, coordinated through voluntary market arrangements.
As Read noted in Having My Way, rather than bemoaning any inequality of results, it would be more accurate to say, “inequality exists, fortunately!” as long as it is combined with freedom, which he called our“working handmaiden.”

[F]reedom and equality are ... mutually antagonistic. The equality idea…rests on the antithesis of freedom: raw coercion. It is ... impossible to be free when equality is politically manipulated ...

Not our likenesses, but our differences, give rise to the division of labor and the complex market processes of production and trade ... it is to our advantage to specialize and to trade with other specialists. ... By thus serving others — and becoming ever more skilled and outstanding (unequal) in the process — he best serves his own interest.....To Read More.....

Tuesday, September 24, 2013

Fear the Boom, Not the Bust

Mises Daily: Monday, September 23, 2013 by Frank Hollenbeck
If you listen to TV commentators, you’ve been told the worst is behind us. Growth is picking up, and Europe is coming out of its slumber. No one seems to be concerned that this tepid below-2-percent growth is being entirely fed by the central bank’s massive money printing. It’s a “growth at any price” policy. How quickly we forget.
Back in the boom days, anyone who questioned double-digit growth in housing prices was viewed as an unenlightened Cassandra, lacking knowledge on how the new economy had fundamentally changed the law of scarcity. Austrian economists consistently warned that a boom built on foundation of easy money could only lead to a disaster. Today, most of the growth is coming from the interest rate-sensitive sectors of the economy, such as cars and housing. This should be ringing warning bells everywhere. 

The conventional wisdom is that the Fed will begin to taper when growth picks up. This is a complete misreading of what is actually happening. The Fed made a monumental mistake, and does not really know how to get out of the trap it had set upon itself. .....To ReadMore….