16 states are doing the politically expedient thing and issuing their citizens one-time “stimulus” checks in response to runaway consumer price inflation across the country.
Jump forward to Aug. 2022, when in lieu of federal stimulus funds, several states have enacted their own types of stimulus programs to better assist their residents.
Unfortunately, giving consumers a dollop of “free money” is likely to increase the very inflation the checks are attempting to alleviate.
What is needed is a return to unfettered free markets for goods and services, where proper price discovery work its magic to resolve all disparities between supply and demand. For too long governments have tried to outmaneuver the “invisible hand”—and have royally screwed the economic pooch as a result.
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