During election season, people love to accuse the media of bias. Liberals and conservatives assail local and national newspapers, as well as various television newscasts, of tilting in one political direction or another. Since it is unlikely that a news source can be biased in both directions, many people’s perceptions must be erroneous.
You may have read that President Trump paid no federal income taxes for a few years. The press and rival politicians reacted with horror. Assuming President Trump accurately reported his income, losses, and other information, then there is absolutely nothing immoral or unethical about this result.
The COVID-19 epidemic has revealed that scammers are still alive and well. They nimbly offered nostrums to prevent or cure the virus to naïve buyers within a few weeks of the epidemic’s explosion. In doing so, the medical quacksters have lived up to their predecessors: let no health scare or new technology go to waste.
In the wake of the disruption in America’s economy, legislators on both sides of the aisle quickly rushed through palliatives for American businesses and workers. In doing so, they may have created situations rife with what economists call “moral hazard,” situations where the affected parties have disincentives to mitigate losses.
I was looking at a cereal box while I munched on the goodness of oats. The box proclaimed that the cereal was “heart-healthy.” Since the cereal was pure oats, instead of a lot of sugar with a few oats thrown in, the claim was plausible.
You may recall a recent news story and photo of a young, enterprising man with a garage full of toilet paper, hand sanitizers, and other merchandise. This was early in March, and he decided to invest money in items that might escalate in value. Although there was a “run” on toilet paper, the young man certainly did not “corner the market” on these commodities. He broke no laws or used any inside political advantage. Other people were free to stuff their garages with toilet paper and hand sanitizers.