by Richard M. Ebeling
The American Institute for Economic Research
It is very easy to say that we have been and are living in unprecedented times in 2020 and 2021. We have experienced a global pandemic, with government-imposed and mandated lockdowns and shutdowns of much of America’s and the world’s economic activities and social interactions, as well as with governmental debts that cumulatively are almost equal to the global Gross Domestic Product (GDP). Other than the economic impact of the Great Depression of the 1930s and the disruption of peaceful international association and interaction during the war years of the 1940s, there is little that can be compared to what many people have lived through over the last year and a half, in terms of disruption of everyday, daily life.