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When Politicians Panicked: The New Coronavirus, Expert Opinion, and a Tragic Lapse of Reason Hardcover – March 30, 2021

4.5 4.5 out of 5 stars 111 ratings

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When Politicians Panicked tells the tragic story of how, in response to a spreading virus, global politicians mindlessly pursued economic desperation, starvation, and death as the cure.

The global economy was booming as 2020 dawned, but within a few short months wreckage, death, and desperation borne of economic contraction were the new normal. What happened?

In
When Politicians Panicked, economic commentator John Tamny tells the heart-wrenching story of a time when politicians were tragically relieved of basic common sense in their response to the new coronavirus.

In March of 2020, the virus quickly became a major news item as political panic about it traveled around the world. Even though anecdotal and market-based evidence from the virus’s epicenter indicated very low lethality, politicians quickly imposed economy-crushing lockdowns on the rather specious assumption that unemployment, bankruptcy, and starvation would somehow halt the virus’s spread.

Tamny methodically dismantles the political consensus by showing how economic growth has long been the first and last answer to death and disease. He then shows how politicians, having mindlessly crushed a growing economy, proceeded to double down on their mistakes by throwing taxpayer money at their shocking errors.

Throughout
When Politicians Panicked, Tamny makes a relentless case that free people don’t just produce the wealth that renders today’s killers yesterday’s news. They also produce crucial information about health threats that shine a light on that which threatens us. Lockdowns suffocate economic progress, but they also blind us to how we can progress—as Tamny makes plain in what will go down as an essential history for anyone seeking to understand the coronavirus panic of 2020.

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Editorial Reviews

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"A society or a civilization which is poorer will be less capable of coping with a public health crisis. Now, if that seems like a commonsense observation, well that is because that is exactly what it is. To anyone who has lived through what passes for health and economic policy in 2020, though, John Tamny's provocative book—based as it is on that observation—will come as a shock. Tamny's book is an excellent contribution to the conversation that the world will need so that the mistakes made during this epidemic are never made again." -- Jay Bhattacharya, Professor of Medicine, Stanford University

"John Tamny bravely describes the terrible and senseless economic pain caused by politicians panicking in the face of a health concern that—let's be real—is no worse than a bad flu season." -- Rich Karlgaard, Publisher of "Forbes"

"The response of governments around the world to the coronavirus has been a colossal policy error—probably the worst in humanity's history. We'll be struggling to understand what went wrong for the next fifty years.
When Politicians Panicked will bring essential clarity." -- Toby Young, LockdownSceptics.org

"John Tamny's myth-shattering new groundbreaker,
When Politicians Panicked—isn't really about COVID-19 but a radically yet stunningly older, better way to envision it, innovation, healthcare and its evolution, economics, wealth creation and our overall culture—both by what is normally seen and unseen." -- Ken Fisher, Founder and Executive Chairman, Fisher Investments

"Tamny writes a provocative book exposing critically important issues arising from the coronavirus pandemic, beyond the destruction of families and tragic loss of life." -- Scott Atlas, Hoover Institution, Former Chief of Neuroradiology at Stanford Medical Center

"John Tamny makes a convincing economic case for lockdowns being suicidally self-destructive." -- Lionel Shriver, Author of "The Mandibles"

"The intellectuals often get things wrong but it is the politicians that weaponize their errors. Read Tamny's riveting account of what is surely the greatest failure of politics in many generations. And work to make sure nothing like this ever happens again." -- Jeffrey Tucker, Author of "Liberty or Lockdown"

About the Author

John Tamny is president of the Parkview Institute, editor of RealClearMarkets, a senior fellow at the Market Institute, and senior economic adviser to mutual fund firm Applied Finance Group. He frequently writes about the securities markets, along with tax, trade, and monetary policy issues that impact those markets for a variety of publications including the Wall Street Journal, Forbes, and RealClearMarkets. Tamny is the author of six books. His latest is The Money Confusion (All Seasons Press). Others are When Politicians Panicked: The New Coronavirus, Expert Opinion, and a Tragic Lapse of Reason (Post Hill Press), which was released in 2021, Popular Economics (Regnery, 2015), a primer on economics, Who Needs the Fed? (Encounter Books, 2016) about the central bank’s onrushing economic irrelevance, The End of Work (Regnery, 2018), which discusses the exciting evolution of jobs that don’t feel at all like work, along with 2019’s They’re Both Wrong: A Policy Guide for America's Frustrated Independent Thinkers (AIER).

Product details

  • Publisher ‏ : ‎ Post Hill Press (March 30, 2021)
  • Language ‏ : ‎ English
  • Hardcover ‏ : ‎ 304 pages
  • ISBN-10 ‏ : ‎ 1642938378
  • ISBN-13 ‏ : ‎ 978-1642938371
  • Item Weight ‏ : ‎ 1.4 pounds
  • Dimensions ‏ : ‎ 6 x 0.9 x 9 inches
  • Customer Reviews:
    4.5 4.5 out of 5 stars 111 ratings

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4.5 out of 5 stars
111 global ratings

Top reviews from the United States

Reviewed in the United States on April 5, 2021
During the last year I have been convinced that the media obsession with COVID-19 and governmental attempts to mitigate it by lockdowns have been driven by hysteria and fear of death which, as a Christian, I reject as unreasonable and damaging. It has been encouraging to have my instincts confirmed by John Tamny who has just published a book which should be read by all city, county state and federal officials. WHEN POLITICANS PANICKED: The New Coronavirus, Expert Opinion and a Tragic Lapse of Reason reviews the events and the historical context that has caused the economic damage that has affected the whole world.
He quotes New York Times columnist Farhad Manjoo who feared overreaction and the worry about unnecessarily severe limits on movements and civil liberties that politicians would push for travel bans, overbroad quarantines or other measures that might not be supported by the science. The book’s argument is that even if the virus was lethal (which it is not if you are under 65, and in reasonably good health), there was no need for forced lockdowns of any kind. People do not need laws to protect their health. They will take whatever measures they need on their own. Instead politicians fought potential illness and death with unemployment, bankruptcy and mass desperation through a forced contraction of the economy. They would not allow individuals and businesses to work and produce.
He argues that there was never in 2020 an economic crisis born of a spreading virus; rather a spreading virus proved oxygen for politicians on all levels to show that they could act and keep their constituents safe. Having prevented ordinary people from working and created unemployment for the poorest they then piled on national debt to compensate for their actions. Unnerved by something they didn’t understand, they substituted their extraordinarily limited knowledge for that of the marketplace on the way to putting tens of millions out of work in the U.S. alone. Having engineered an economic contraction that wiped out the livelihoods of tens of millions, those same politicians then doubled down as they extracted trillions of dollars from the private economy in a panicked effort to throw money indiscriminately at a problem of their own making.
This then affected the whole world. In 2019 millions of Indians, Filipinos, Mexicans and others from developing countries working overseas sent a record $554 billion back to their home countries. The lockdowns put tens of millions out of work around the world. The result was greatly reduced remittances. It is believed that 135 million human beings starved because of the lockdowns supposedly to save lives from COVID. Arif Husain, chief economist of the United Nations’ World Food Program projected in April 2020 that 285 million people could be pushed to the brink of starvation by the end of 2020. Those with the least were hit the hardest. This was the consequence of an upper middle class elite (and employees with salaries paid by taxpayers) that was making decisions for everyone and for whom the lockdowns were a mere inconvenience at worst and a vacation at best.
“For the longest time chin-scratching intellectuals have searched for signs of ‘decadence’ in the United States. The view here is that the U.S. happened upon it in the spring of 2020 when, in response to a virus, well-to-do politicians with access to trillions decided to take a months-long vacation from reality…Proper history will indicate that what took place in 2020 was a global debacle – a human rights tragedy of remarkable scale. When politicians panicked, those with the least suffered in unimaginable ways. Consider the unseen globally. What the U.S. does matters…. The speculation from your author is that a brave face from the U.S. would have given politicians around the world the necessary cover to avoid economy-wrecking lockdowns…. What makes it all the worse is that the suffering was so unnecessary. If people had just been allowed to adapt, a global contraction could have been avoided. If anyone doubts this, they need only consider yet again the businesses and sectors that were ‘allowed’ to remain open. They adjusted and did just fine….What would hospitals, businesses and people have done, and how would they have innovated if they’d been left alone to work and live around the virus? …The view here is that the reaction of politicians to the coronavirus amounted to the biggest twenty-first century crime against humanity….The biggest enemy of life – by far- is poverty. Let’s never again fight disease with the taking of freedom and wealth so essential to knowledge, prosperity, and by extension, life.”
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Reviewed in the United States on May 25, 2021
This book makes a compelling practical/economic case that we all would have been far better off if governments had simply provided relevant information about the dangers of covid and said, in effect, "Stay safe, good luck!" instead of trying to centrally plan a collective response.

Whether you approach the book already sympathetic to this point of view (as I did) or not, the book will make you think... if you are willing.

Incidentally, regarding the several more negative user reviews the book has received, I get the impression these are from people who think that the main point of the book is that "covid was never that dangerous" and "we overreacted". Tamny does assert (and provide substantial evidence for) the claim that covid was nowhere near as deadly as many people came to believe based on the fear-mongering hype. But to classify Tamny as a "denier" (of the lethality of covid) is to completely miss the essential point. Tamny's main thesis is not that we over-reacted, but is rather that one-size-fits-all, centrally-planned reactions are inherently bad, because they do not allow individuals to calibrate their behavior to their own unique situations and risk tolerances, they do not allow people to try to INNOVATE creative solutions to the problems caused by covid, and -- especially -- because they do not allow all of us to LEARN from the successes and failures of different individuals/businesses/locales that try different approaches. Tamny repeats over and over again in the book that arguing about statistics, how lethal covid was exactly, etc., is a fool's errand. And he repeats over and over again that the centrally-planned, one-size-fits-all, universal lockdown kind of approach would have been EVEN WORSE had covid been even more lethal than it has turned out to be. So people who dismiss him as a "denier" are really just completely missing the boat. The point is actually, at root, epistemological: government force prevents, but freedom guarantees, the discovery of the best ways to navigate a threat like covid, regardless of exactly how lethal it might be.

It is the people who refuse to see this, and clamor for government central planning on some BS grounds like "but we're all in this together" despite the death, misery, and destruction that collectivism and authoritarianism have caused, across centuries, who are the real "deniers".
3 people found this helpful
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Reviewed in the United States on May 12, 2021
Not John Tamny's best writting--somewhat repetitive--but highlights the fact that politicians had absolutly no idea what they were doing but lacked the integrity to even consider the obvious unintended consequences of turning the problem over to risk adverse administration "experts" who simply didn't care about anything beyond containing a virus that wasn't even a serious threat to most of the population. Politicians are those who had the responsibility to consider the consequences of accepting the recommendations of officials--not one of which ever had any threat of missing a paycheck but were deathly afraid of doing anything that might be criticized by anybody! These fools were perfectly willing to destroy the country just to avoid personal criticism! And politicians washed their hands of the problem and walked away, leaving their constituents to suffer at the hands of uncaring bureaucrats!
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Top reviews from other countries

Brett Mcsweeney
5.0 out of 5 stars A brilliant, outlook-altering read
Reviewed in Australia on June 15, 2021
An outstanding book. It brings a perspective to the Coronavirus subject that is entirely missing from the media and the political world, yet it is a perspective and way of thinking -based on freedom and individual responsibility - that is essential to make sure this type of disaster brought on by panicking politicians does not happen again.