You can’t make any kind of complex item without having a good supply chain in place.
Whether we’re talking about automobiles, homes, vaccines and medications, clothing, or pretty much anything else, you need to be able to get the raw materials, the tools to make them into your product, and the means to market and distribute them.
Economic nationalists and woke “fairness” advocates clearly don’t understand how supply chains work, and we all suffer when their policies are implemented.
How do we combat this nonsense so we can get the things we need? My guest tonight is Deidre McClosky, she’s an Economics Professor at the University of Illinois in Chicago, and we’re going to talk about exactly that.
Episode Transcript
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FULL TRANSCRIPT TEXT
i’ll be
buried in my grave
before i become a slave yes
that is
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but it seems like since that day yeah
we have solely changed
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before i become
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but it seems like since that day
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from oh myrtle beach south carolina
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as always folks i have a fantastic
guest tonight uh she is the professor
emerita a distinguished professor
emerita
which means that uh she’s retired uh for
those who don’t know what that meant
uh of economics and of history uh she’s
also the professor emeritus of english
and communications
adjunct in classics and philosophy at
the university of illinois at chicago
uh she has written 24
books 24 not
one not even 23
24 books and some 400
academic and i don’t know if i’ve
written 400 tweets yet
400 academic and popular articles on
everything from economic history
rhetoric philosophy statistical theory
economic theory feminism queer studies
liberalism ethics and law this woman is
i already this woman is
way smarter and more learned than me i’m
already somewhat intimidated but we’re
gonna have a fantastic conversation
about supply chains and i can’t wait to
get started ladies and gentlemen
my fellow americans please welcome to
the show professor
deirdre mccloskey hi
how are you dear i’m here in in i’m here
in chicago where i live and
and it’s not widely known you
you can see behind me that’s the grand
canyon of the colorado
and it’s not widely known that there’s a
branch of that
in chicago there’s a branch of the grand
canyon in chicago
yep as you can easily see behind me yes
no it’s beautiful
and you have an amazing view of it the
professor of merida that must pay very
well for you to have
canyon property in chicago like that
yeah
with that and a dollar you can buy a cup
of coffee
well folks uh be sure to comment with
your thoughts and questions
and deirdre and i will tell you if you
are right
or wrong now deirdre before we get
started i just want to ask you i mean
you clearly
are an expert in many different things
uh whenever i have someone on for the
first time i always ask them
what is it that got you into this i mean
obviously it’s not your line of work
anymore you have have done like me and
moved on into retirement so we’re now
both
professional retirement advocates uh but
you know when you were doing this what
was it that got you
uh into this these different fields of
study what what led you to
want to become a professor you know i i
was
when i went to college a long time ago i
was going to be a
major in history you know but i found
that if you
if you majored in history you had to
read an awful lot and that that really
didn’t
that interfered with my social life
and at the time i was uh i was a
socialist
as lots of people are when they’re when
they’re teenagers
and i thought well well
what other major would be good right and
economics sounded exactly right because
i could help the poor
by by bossing them around and
uh and and it it it it
and it didn’t involve a lot of
reading of long tedious books so now
instead i write them
so i was going to say when you said
man i i hate reading it really gets in
the way of my social life and i thought
well
writing clearly doesn’t clearly you’re
able to attend parties while pending
your next novel
that’s right well i i it and
then i i as i got older and and and
matured and
in uh intellectual life i
i realized that economics by itself
is not enough that as it’s been
well said that somebody who’s only an
economist
won’t be a very good economist because
an economist after all an
academic economist is kind of a social
philosopher
or at least ought to be right so like
it’s like what what my heroine
met mae west said i was snow white
but i drifted
now is there a specific i mean you are
in
uh the you or you were teaching in the
uh into
uh in the university of illinois in
chicago are you a proponent of the
chicago school of economics or of
another one or
yeah you sure i was i was for um
i i my first job was 12 years at the
university
of chicago as a professor there and i
was tenured there
um and that that was in the in the glory
days
from 1968 to 80 i was there and that
goddess
it was a a wonderful place to be a young
economist because extremely creative and
milton friedman was a colleague and
it was altogether thrilling um and then
i spent 19 years at the
at the university of iowa go hawks
and then my last
15 years of teaching
at the university of illinois at chicago
but as i went through that
i kept getting so to speak broader and
broader and having more interest so
as you mentioned i was also a professor
of english
and you know okay it turns out that to
understand the economy
to really understand it you’ve got to
understand novels
you’ve got to understand philosophy you
have to understand people
and since i’ve always been an academic
and haven’t ever
had a real job the only way i could find
out about
people was to read and read uh
books about them right i like this what
you’ve said so far i was a socialist
as most kids are and then or
you are want to do when you’re a kid i
was actually a neocon when i was a kid i
was that was that kid
um but uh and then i i was an academic
which means i didn’t have a real job
so this is i think going to be a really
good uh interview
so i want to ask you so the reason i
have you on uh besides the fact that
you’re a lovely dear woman
uh is that uh we i want to talk with you
about supply chains
um and for those i guess let’s let’s
start with the most basic things
many people have heard the term supply
chain can you give us a kind of
brief definition of for those for the
uninitiated
what is a supply chain and what does it
do how does it function
well you know it’s it’s not it’s not
actually a term in economics
it’s a term in in in the world of
commerce and
and manufacturing and so forth and it’s
the rather obvious
idea that in order to make an automobile
you got to have some steel
and you got to have some i don’t know
some plastic and
some wires and some computers and
those go into making the automobile so
what a supply chain is is a way of
talking about the recipe
for making an automobile or making a
pencil or
making me making a making a restaurant
meal
or anything and certainly it kind of
looks back
um behind the
uh the automobile that comes out of the
factory and
says okay now what does this need and
then what does
what does the steel maker need so it it
it’s
it’s it’s a mistake actually in economic
analysis
because the one recipe
which is what you can find out about if
you ask the person making the automobile
or the
or the meal well what she bought
to make these things she can give an
answer and there it is
and then you’ve got that that that that
recipe
is not the only way to do that
product you see what i mean so there
the the the main
or a main theme in economics is that
there are substitutes
for everything there’s more than one way
to skin a cat
it’s the property and so it’s not
you hear a lot about supply chains and
people talk very wisely and think oh boy
i understand the economy but they don’t
really understand it unless they
understand that there are many many
different ways
of making the same product right well
and in fact that’s
even in implicated in how we talk about
it right so we talk about the supply
chain
as though it is this that’s very good
metal
thing that is involved when in fact it’s
actually a supply
uh environment that’s being created and
that’s very
good that i’m gonna i’m gonna i’m gonna
i’m gonna steal that expression from you
yeah the this chain idea acts as though
it’s rigid coefficients which is how we
express it mathematically
and it’s just that’s all there is you
can only do it one way you got to make
make it this one way and as you say it’s
more an environment or a market
or a field of cooperation
or a social web
and if you if you understand the economy
that second wave
the field of cooperation
then you you’re you’re free from from
the this idea of a rigid uh formula now
here’s a
here’s an amazing application of this
okay
during the second world war both
britain and the united states and for
that matter germany when it had an air
force
engaged in strategic bombing
as they said to themselves there’s a
supply chain
of say tanks going from
germany to the uh the eastern front or
the western front
and if we drop bombs on the on
on the railway junctions that’ll stop
them
right and
this idea of strategic bombing famously
didn’t work very well in fact after the
war
there was a strategic bombing survey
by a bunch of economists and they said
well was this
this bombing campaign in which we killed
actually hundreds of thousands
of civilians right maybe more
um it was this a smart thing to do
and the economists
looking at the facts looking at the data
found that the germans
uh substituted famously the the
the the
soviet union moved
much of its war
production east of the urals
away from where the german bombers
could get to it so this is not
just some academic idea because then
they tried strategic bombing in vietnam
and it didn’t work there either right
right right
so it’s really crucial to know
that it’s a social mechanism
it’s not a chain well it is it is
supply meeting demand so if the demand
is still there the supply is going to
find a way around to meet it and if you
can look at it as a
social phenomena rather than this rigid
thing
that’s exactly right the the it’s it’s
the it’s the search mechanism that both
consumers and producers are doing all
the time
i mean anyone who’s actually been in the
business world which
by the way as i mentioned doesn’t
include me knows that
there’s this constant um uh
edgy searching of course we’re all
consumers
and and i like to shop
and the shopping
is an inventive activity
it’s you’re you’re you’re deciding what
inputs you need for your household
i just bought for example one of those
kind of stick vacuum cleaners that have
become so popular
yeah you know instead of the big one
then they have batteries and
so on instead of a cord i just bought
one
you know so i’m i’m making i’m i’m
substituting away from
a carpet sweeper which is an
old-fashioned technology
as i have and i’m moving to this newer
way of doing it
i’m substituting and so consumers are
producers are so the whole idea of a
chain
a rigid way of doing things
is against um well it’s against
common sense and and correct economics
is common sense well and i mean even
speaking to like the calculate the
economic calculation problem that uh
ludwig von mises posited that
you know the reason that a cashless
society or a society that doesn’t have
some kind of price inputs can’t work uh
is because
there’s no way to determine what the
value is for any specific
thing which means you can’t do anything
because you need that to supply
every single aspect of any single thing
that’s being done whether it’s a bridge
or a road or a building or a sandwich
for that matter
and and that that you’re you’re you’re
you’re also cool correct there um
that idea of the rigid coefficients
was believed by economists they were
mainly english
in the early 19th century and was
adopted by karl marx
and engels and has become kind of
doctrine on the left in economics
so marxist economists keep trying to
force
the economy into this fixed as big we
call it
fixed coefficient way of looking at the
world this supply chain way of
looking at the world and um it’s a you
know i have
lots of marxist economist friends and i
i keep arguing with some
deers you should abandon this idea
structure is not what determines the
economy
because the structure is chosen
it’s humans dancing around you can think
of
the the economy as a big
dance floor which people are dancing and
changing partners and so on and it’s a
as
uh hayek said it’s a spontaneous order
and it’s not this lockstep
thing that you can easily drop bombs on
to stop it
see if you have a mechanical view of the
economy like
the supply chain ideas then you throw a
wrench into the machine and you stop it
right
so you can you can do successful
strategic bombing
or or indeed an early example of this
was the uh the blockade
of napoleon by by the
by the english navy in the napoleonic
war which again was a way to
try to stop his economy by
well in this case uh having ships
attack it and you know there
there were uh substitutes
well and and you know taken to its
logical conclusion of course
uh and and we’re largely just agreeing
with each other here so i do want to get
into the
into the uh um the subject of how this
works in specific applications
if you go to the logical conclusion of
this if supply
and the chain or the the mechanism by
which it’s fed
is this fixed rigid thing then that
means
the economy would be the same now that
it was ever
and that there wouldn’t be well
innovations there simply couldn’t be in
even
innovations because supply always the
way that things are supplied
never changes it’s it yes
that this way of looking at the world
the non-substitute
really non-economic way of looking at
the world is ill-adapted to thinking
about
uh progress and uh since the main thing
that’s happened in the last couple of
centuries
in the world’s economy is a really
is as the english say gob smacking
progress your ancestors and mine
were unspeakably poor um
and and now here we are
on the internet and yeah you know buying
stick vacuum cleaners with batteries and
so on
we’re we’re so um advanced and that
indeed is a um is a matter of the dance
um a matter of
as we say in austrian economics human
action which is a i’m a i’m a
i i i i i’m a christian i’m
an episcopalian and i think of it in
terms of free will
um i just
[Music]
wrote a paper saying it’s which
is it title is approximately free will
goes with free markets and that’ll
that’ll drive the theologians who are
mostly social it’s crazy
well you know you can apply it it’s the
invisible hand of the free market and if
there’s it is an ideological way to talk
about it it’s it’s
i think we ought to stop talking about
the invisible hand because it irritates
people without informing them
right it sounds like magic yeah and in
fact
adam smith only used it twice
in his being the only
to the only two books he wrote by the
way i’ve written
all these books i’d i’d certainly trade
them for the two that he wrote
but but um in fact in the two play in
the
in one in the wealth of nations and in
the theory of moral
sentiments he only uses this image once
for each book and they’re not used in
the same way
so it’s it’s not because it it makes
people
think that we free market types are kind
of
spiritualists and yeah we believe that
it just happens and god makes it happen
and so no no no no
it’s it’s it’s a spontaneous order
the way language is a spontaneous order
or music you know would you like
central planning of rock music no i
don’t think anyone would
and the the development of
rock music is a spontaneous order
yeah i i it’s i was just talking about
this with someone
um they were uh they were talking about
how
in a debate uh they were asked about
health care
and they started talking about the
invisible hand of the market and
everyone got very upset and i said well
here’s why they got upset
they don’t know what you’re talking
about it sounds like you’re saying we’re
gonna take your healthcare
and replace it with magic and and
you know there’s no explanation if you
don’t yeah that’s right
that’s right what that means and you’re
getting nowhere and you can spend that
time in far better pursuit so
uh speaking of healthcare let’s talk
about an example of where the supply
chain or supply phenomena whatever you
want to call it
uh works in uh vaccines uh we have seen
uh in the last year uh a year ago
just over a year ago we were told about
a virus that
none of us had ever heard about it was a
novel virus
and within a matter of weeks there were
uh vaccines that were undergoing
trials uh which were very effective
especially considering many of them were
the first
attempt at a vaccine for it by these
companies
tell us how this supply chain works into
for example the creation
and distribution of vaccines well you
know you you have to be methodical in in
thinking up a vaccine
and what what was astonishing about this
is that the day after
or the week after within very short
order of
of these companies getting or or
academic institutions getting
the the gene map from the chinese
of the virus they had vaccines
now as you said they had to you know
they’re being
regulated by governments right and so
they were not free to just start
producing the stuff and in fact that
would be kind of dangerous to just
kind of randomly start making them right
but i i don’t think it’s the the
government that should be doing the
certification
but in any case this is amazing how fast
we’ve gotten this
um uh you know we’ve been looking for a
uh
a a vaccine for aids for 30 or 40 years
without success
um and and and polio i remember the days
of polio when i was a kid
you know every summer there’d be this
terrible polio epidemic
and it took a long time they started
trying to get a vaccine for polio in the
1930s
and it took forever okay
but what’s unfortunate then
is this rigid supply chain
way of thinking says well okay now
the government will take over the
distribution
and of course we need so much to go to
michigan
so much to go to virginia and so much to
you know california and
this goes to chicago and this goes to
memphis
and that’s not how to do it
what we should have done and actually
it’s starting to happen
is handed it over to
[Music]
to to the drugstores or for that matter
even earlier in the in the supply shall
we call it the supply process
allow the drug companies to sell it
to anyone they want in that case
you know we wouldn’t be allocating
these vaccines by this kind of crazy
process
i got my first shot again i’ve had to
in indiana because i was down in
bloomington and
indiana helping my sister take care of
my mom who was dying
she actually died about three months ago
but i was down there and i got my first
shot then
then i come back to chicago where i live
after mom died
and here i am and i think well i’d
better get the second one
i couldn’t get it in chicago i had to
the plan was finally i had to go back to
indiana
to get the shot now this is crazy this
is
this is local this is not how to if if
we allocated um
bread this way or i don’t know anything
else you want to name
we would be very hungry but
uh so but but by now
i must say they they it’s it’s
they have uh uh enough of these shots
that this impulse to
control and centrally plan is fading
and i actually got my second shot at
walgreens
here in chicago
well that’s good and you know some of
this is because thankfully
it appears as though anyway you have to
get the the two shots and you shouldn’t
need them moving on but if this were
something you needed regular boosters
they’d have to come up with a way that
you know up to 320 some odd million
americans 330 million americans
would be able to get this every year
every few months but this
this is not really a big problem
um in the sense that if you if you leave
it to the market of course that
irritates our our socialist friends but
if you say
if you lead it to if you leave it to
ordinary um
[Music]
business ordinary suppliers like the
drugstores
it wouldn’t be that much of a problem to
get 330 million people
vaccinated three three four times a year
if you needed to
turns out actually that i saw something
in the paper this morning
that they think actually that these
vaccines are going to last
for some years which would be great
because after all with the flu
every year we have to do a new vaccine
right um
so but but you know the way to do it
is the way we do it with the flu let the
private companies do it
for a price and it’s not as if
this the this uh
covet 19 or the flu are orphan drugs
that is a problem and i’m concerned
about it it’s not that it’s a really
small
disease um that only has a couple
hundred people who have it
and so it’s not profitable for the
companies to do it
this is not the case for coveter for flu
uh it’s very it can be very profitable
to
just sell stuff right exactly yeah i i
get a monthly
i have ms and so i got a monthly
infusion
um and it’s not cheap thankfully i have
insurance
um but it’s also something that i think
maybe
a couple hundred thousand people are
taking on a monthly basis
as opposed to this is something that
would be hundreds of million so there’s
no reason that they couldn’t on an
economy of scale
make money and still provide it
affordably to people that need it and
insurance companies would cover it
uh there would be municipal health
systems that would cover it there would
be private charities that would cover it
and by adding that price signal and
being able to supply it where it’s most
needed
then you would be able to you’d be able
to provide it a lot more easily
yeah and and in fact it’s in in the
matter of
of covid if you’re worried about the
poor and i am
i i told you i’m a christian um
then you you give the poor people
um uh vouchers and you
and you make people like me pay more
that’s fine with me i’d be willing to
pay a couple hundred dollars easily well
actually more
to if i had to but you you wouldn’t have
to
if you if you evoke you call out
these um uh
these um
motivations of self-interest right right
so let me ask you something how is the
infusion working
oh it works great i’ve been stable ever
since i’ve been on it i went from having
a
relapse every month to month and a half
which is a very very aggressive case of
ms
to uh i haven’t had a relapse since i’ve
been on it uh in uh
summer of 2017 i’ve been stable that is
terrific
well great and a perf thank you and a
perfect example of what we’re talking
about
innovations and supply and and meeting
demand there was a demand
on the market for effective treatments
for ms it used to be when you were
diagnosed with multiple sclerosis
they would tell you about the types of
things that can happen to you if you
have ms
and when those things would happen they
would line you up with occupational
therapists and
people to fit you for a wheelchair or
canes or whatever
and and all these different things and
they basically manage your decline
as you decline your mms and hopefully
your ms wasn’t very aggressive and if
you’re someone like me where your ms was
very aggressive that decline was going
to be sharp and pretty extreme
now yeah we’ve now gone to the point uh
because of the
the demand and the price uh inputs and
price incentives that were there that
there are now treatments that yes they
were very expensive
but they’re much less expensive to
insurance companies and patients
than managing someone’s decline and
having to get wheelchair accessible vans
and
having to fit your home for disability
not to mention the loss of income and
all these other things
as a result of that go ahead
yeah well it’s the same thing with aids
the aids uh
cocktail yeah you know
it’s it’s really important to hitch
the interests of the companies now look
on the other hand i think it’s a
terrible scandal
that that people in the united states
are not allowed to buy drugs anywhere
else essentially
and that’s just loony um if if you’re
in a debate about health care with a
person on the left i i suggest that you
bring up that case because it’s
so simple you say well there is one
market solution we could have
and it would be allow people to buy
drugs in canada or mexico or france
wherever they want
and your friend on the left will have a
hard time arguing against that
you can’t say all those unreliable
canadians are going to poison us
well come on stop it
especially when some of those drugs
especially when some of those drugs are
made over there and then shipped over
here exactly so you’re literally
just paying for the the the patent
protections here
exactly it’s it’s shocking how much
cheaper drugs are in canada
and still more in india where a lot of
them are made
yeah let’s let’s talk about india
because that’s actually a big
uh factor in this in this some of the
debates that are going on
with vaccines um can you talk to us
about
why uh india is so pivotal when it comes
to supply for
uh vaccines and and what’s happening
there
well i i’m not an expert on india
although i
love india i’m i’m a cricket fan
which is you know kind of crazy but i i
love
english cricket and so do the indians
so indian and pakistani cab drivers in
chicago
i always get into a conversation with
them about
about korean cricket i think it’s
probably
that india is good in
educating engineers
and
other highly skilled people on a kind of
mass
scale and these people don’t have fancy
jobs
so they go work in these drug companies
i guess
that would be just that’d be my first uh
first hypothesis
the danger of course in in allowing
um the indian uh uh covet to just go
crazy
is that if we allow it in brazil in the
united states and india to go crazy
it mutates it has more and more of a
chance to me
mutate yeah yeah and so
one of the things that and this is
something shared by both economic
nationalists
and this sort of new brand of of woke
fairness
advocates uh yes the idea that you know
government should be stepping in
and deciding where things are made who
gets what
and yeah basically ignoring the
existence of
supply and demand needs and the market
in general
well well my my look in the last three
centuries
intellectuals in europe have had three
really big political ideas
the first one was
was liberalism the
the uh adam smith called it
the obvious and simple system of natural
liberty and that was new
because in agricultural societies such
as we had
hierarchy was the rule of the day right
and you know you were born
to be a you were born as a milkmaid you
stayed as a milkmaid
the the next one these
smart people thought up was nationalism
in the early 19th century especially and
in the middle of the 19th century
socialism so those are the three
liberalism
nationalism and socialism and i’m fond
of saying
if you like nationalism say in
in making stuff and you like socialism
have washington in charge of making the
stuff
maybe you’ll like national socialism
it works very well
it’s a great track record with national
socialism
oh yeah it was a wonderful system and it
was so peaceful
yes that was that was the hallmark of
national socialism it’s just how darn
peaceful it was that’s my favorite part
let’s talk about so the people that are
are advocating for example there have
been some articles and some advocacy
that’s happened where people are calling
for
the united states to supply the world
with vaccines to
provide vaccines and of course their
arguments are in some ways
understandable
as you said the longer this virus is out
and spreading around it can mutate and
reach
become something possibly worse or more
or
something that is not yeah
yeah but but it it it it doesn’t have to
be the government
it doesn’t right i mean look the these
vaccines are not all that hard to make
fortunately
yeah um they’re they aren’t they aren’t
intrinsically very expensive and so if
you just allow the
the drug companies to make them wherever
they make them india
or uh france or in germany or the united
states wherever they make them
and just sell them on a on a
profit-making basis
they’ll supply the world rather easily
and what’s remarkable about this
thank god this situation we have is that
new vaccines keep coming out
i mean i’ve been very impressed by this
i don’t know how many there are now but
six or seven or eight right different
vaccines at various stages of trials
and of course the the food and drug
administration
slowed down the the spread of the
vaccines in a
sinful way but still
they’re getting through this
so i think you could you could again
depend on the market
to do this now look if there’s a big
pile however bad the idea was
that the government owns yeah
then i i you know i don’t want to throw
it away
and you might as well hand it over to
the indians that’s okay with me i don’t
mind it
too much because look
our our friends on the left are always
talking about externalities
right and imperfections in the market
they just love to talk about them
and there there aren’t very many that
are really significant
but one that is is a plague
now this one is not the black death
which killed a third of the population
of europe
and it’s not not even the 1918 flu which
was worse
than what we have so there i i my
my my my other
libertarian friends a lot of them say
look
we’ve grossly overdone
our panic about this thing but still um
there’s a case for coercion
to make every child
be vaccinated for measles for example
right right
i mean i don’t have too much of a
problem with that um
uh your
liberty goes as far as my notes
you aren’t at being a free person
doesn’t mean you’re free to punch me in
the nose
right of course nor is being a free
person
give you a right to blow covert 19 up my
nose
right so there’s a case there
as my friends um uh my other friends my
my libertarian friends say it it has
been overblown but still
well yeah absolutely and i i think then
in those types of situations where
there’s a gray area
because it’s like well you know to what
extent should my actions be limited to
potentially
protect you now if it’s the common cold
obviously no
if it is uh yeah if it’s if it’s
you know the black death then yes we’ve
got a case here
you know we need to have conversations
about depending on the the the
virulence and the the seriousness of the
illness itself
to what extent is just ex you know
existence
is that infringing upon potentially
someone else’s life for safety
see what we do is the flu we do not
compel
people to uh have flu shots
right now old people like me have a very
strong incentive
to get a flu shot which by the way
compared with these uh uh coven 19
vaccines
it it varies of course from year to year
they’re not very effective they only
protect you about 50
of the time right whereas these darn
things are up over 90.
um but okay um and
you can you you can rely on
a certain amount of self-protection in
fact i think
that as a result of this craziness we’ve
had since uh
last year we’re gonna get like the east
asians are
about masks and i think
that you’re gonna find that a lot of old
people especially
are gonna wear masks in the in
in the winter when they’re in a crowded
situation
and you understand that that’s that
that this this coerced mask wearing
which
bothers some of my friends um
has prank has almost eliminated
influenza
in the year before last you know
30 or 40 000 people mainly old people
died of
influenza every year right this year it
was something like i don’t know i can’t
remember the figure but
2 000 compared with 30 or 40
and that’s because people were wearing
masks and
washing their hands and so forth so some
of that i think will become a habit
which will not be a bad thing we’re you
know
we’re we’re we’re protecting ourselves
and
then inadvertently we’re also protecting
other people
yeah i think and and this is what i’ve
said from the beginning i think that
people need to be able to judge their
relative risk
and uh and make and and and their
perception and be able to make choices
accordingly i think that that’s a good
thing to do i agree
but it sort of depends on the virulence
of the spillover as you say in the case
of the black death
i’m willing to let the state do a lot of
coercion yeah no if something
well here’s what i say if something is
like the black it’s killing you know it
has a 30
fatality rate i don’t think the state’s
gonna have to step in i think the vast
majority of people are gonna be like
i’m not going outside until this is
taken care
i’m of outside in a bio suit i think
even in that situation
well that’s right and if you probably
wouldn’t even have to do anything
yeah and if someone tries to come into
their house they’ll they’ll
beat him with sticks yeah that’s what i
mean
yeah i think no i think there would be a
lot of mob justice like hey that guy’s
not wearing a bio suit and just beat him
down because you know he’s gonna kill us
all so no i i think that people are able
to
the vast majority of people are able to
competently
judge risks far better than a
potentially planned organization
and the proof of that is in the early
days of this virus where the cdc was not
allowing testing for covet which allowed
it to spread out of control
and then you had state health officials
who were ordering putting
covet patients in nursing homes and
mental health facilities
where the people are the most likely to
contract it and die from it so clearly
that’s a great idea
yeah fantastic in fact in all these
these these rich countries like uh
britain and the united states and so
forth
a very high percentage of the deaths
have been in uh
care homes as they call them in britain
yep yep
because it was really smart to put the
patients there even though
even though the people that ran the
facility together
you know and and the people running
these facilities are saying
we don’t have the protocols in place to
protect our residents
my mom the one i’ve just done you only
have one mom so
yes she was 98 so she’s quite old and
she was in an old age home
um and she was you know for 98 she was
not in terribly bad shape
but my but as soon as this got bad
when was it in march my suit my
my my my my s
my esther and i took her out of that
and brought her to my sister’s house in
bloomington indiana
and then about two weeks afterwards they
locked down those places
yeah yep that was smart that was smart
you saw that one we we got her out
just in time and then we had a very nice
oh almost
to almost a full year where my sister
and i were taking care of my mom
and it was in some ways
in some ways in some ways a lovely year
because you know i got closer to her and
as she declined we were helping her
well that’s really good i mean
especially if you consider what would
have happened if you hadn’t been able to
spend that time with her i mean that
that would have been yeah
you know it’s an increasing problem of
course that
life expectancies have gotten very high
which is a great thing i mean at
i i’m 78 so i’m very much in favor of
long life expectancies
but um uh it it uh it does
create this um this problem of care
for old people yeah and i must say
as a as a new uh women new
[Music]
a woman the burden of care falls
disproportionately on women yeah
it is definitely a problem to deal with
it’s better than the alternative of
just people being dead throwing them out
on the street yeah
yeah throwing them out on the street
exactly um well this was i mean this was
a really fantastic and eye-opening
discussion about the supply
chain or as we’re going to call it the
supply uh dance
i like that better actually supply dance
we’re gonna we’re gonna coin that term
dance is a very nice nice
metaphor uh yates
the great irish poet ends one poem with
uh
oh body swayed to music a brightening
glance how can you know the dancer
from the dance it’s a
beautiful line and the beauty of calling
it a dance is we might get more people
on the left to support it
because it sounds like a fun it’s a
dance it’s not a change that’s
nice the communists want to break the
chains right like they know
that’s right you know but if it’s a
dance well that’s
fun everyone loves dancing so yeah this
was a great discussion
the these socialists want to stop the
dance
stop the music exactly exactly
exactly so this is usually when i get a
have a chance give my my guest a chance
to have the last word
tell us how they can uh you know stay in
touch with uh all the stuff you’re doing
you’re retired so are you writing new
books like what are you doing now
what oh like matt i’ve written that
since i retired
of five years ago or now at six i’ve
written about i don’t know about eight
new books
and so the best way to get
get in touch with me is my website
deirdre
it’s my name deirdre mccluskey you have
to spell my
weird first name
irish spelling correctly
think of the word weird and spell it
that way
d-e-i-r-d-r-e
deirdre deirdre mccluskey
dot org and there i am actually if if
you just um
go on the internet you’ll find me fairly
fast
okay well well thank you so much for
for joining us so deirdre mccloskey.org
i just put that in the uh in the show
notes so everyone that’s watching can
see that
uh deirdreski.org and to read all of
your books that are coming up
uh deirdre thank you so much no don’t
read don’t don’t read the books
buy the books buy the books and then
read them
i don’t care if you read them buy them
buy the books
reading is optional i mean listen how
how
how much better can you show people how
smart you are than having 24 books
behind you you didn’t have to read them
they’re just there and people go what
are these books oh these books are about
economics and
and uh and feminism and history and
literature
they’re great books they’re by deirdre
mccoskey and people go
oh great well what’s your favorite part
oh what my favorite part
is just how brilliantly they were
written no one’s gonna question it
either so so go buy the books buy all 24
of them deirdre mccloskey.org deirdre
thank you so much for coming on
you were a fantastic guest okay dear
i’ve enjoyed it
thank you so much just stick around
because i’m going to talk with you
during the outro
uh thank you so much for uh joining us
for this episode of my fellow americans
this is usually where i tell you to come
visit me
this coming weekend wherever i’m gonna
be but i’m gonna be at home don’t don’t
come visit me at home
i’m staying home i’m on vacation but are
you traveling alone here
every weekend i’m in a different place
every weekend they have why is that
there are you are you speaking at
different places or what
i’m i’m speaking at uh conventions i’m
speaking
at uh uh last weekend i did uh the
libertarian party of colorado’s
convention
uh i visited a homeless camp with a
non-profit that’s helping the homeless
out in denver
weekend before i was in fresno
california they keep me busy
for someone who’s retired i sure do a
heck of a lot uh three to five days a
week
so but this weekend no this weekend’s
memorial day weekend no one wanted to do
okay anyway so everyone uh uh do that
but tomorrow
uh thursday at 8 p.m uh come right back
here for the writer’s block
uh where matt wright is interviewing i
don’t know who but tune in and you can
see
and then come right back here for
tuesday night uh for the muddy waters of
freedom
where matt right and i parse through the
week’s events like the the sweet little
uh i don’t know children that we are and
then come right back here next wednesday
same spike place same spike time for
another fantastic episode
of my fellow americans folks thanks so
much for tuning in
i’m spike cohen and you are the power
god bless guys
[Music]
[Music]
[Applause]
you can’t make a change
[Music]
it might fit we might just unite
them come together become hybrid at the
least slightly like-minded
indeed the life i’ve lived brings light
to kindness
all you need is a sign put a cease to
the crimes
but at ease of the minds like mine
sometimes darkness is all i find
you know what they say about an hour for
a night in a time when the blood is the
blood who am i to deny would cry when a
loved one dies
i recognize that body outside with the
holes in the body that was alive
i’m in
[Music]
tell me what
[Music]
hey
[Music]
we will make
[Music]
[Music]
you
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