Day: 2 June 2021

Postcard From Toronto

We're publishing a new postcard today on Lockdown Sceptics, our first in a while. This one is from Catherine Brennan in Toronto, which has been in lockdown in one form or another since last November.

Exit, Voice, and Loyalty, the Godfather, and Dr. Fauci’s Book Tour

by Donald S. Siegel and Robert M. Sauer Cardinal Mindszenty In 1970, Harvard economist Albert Hirschman published his classic tome, Exit, Voice, and Loyalty: Responses to Decline in Firms, Organizations, and States. In this book, Hirschman theorises that some agents in an economic system may experience lapses from efficient or rational behaviour. If the system functions smoothly, forces exist that will rectify this inefficient activity: More specifically, private or public institutions that fail their customers or constituents provide their victims with three options. The first option is to vote with their feet and go elsewhere, which he called “exit,” in the spirit of Adam Smith's “invisible hand”. The second option is to ‘voice’ their dissent, by complaining, protesting, lobbying, or taking direct action. Exit is an economic response, while voice is, by nature, political and possibly confrontational. The third option is to do nothing and remain loyal to the firm or government institution. In a free market, voice can sometimes be quite effective. An example was intense customer opposition to Coca Cola in 1985, when it introduced a new formula for Coca-Cola, known as “New Coke”. The consumer outcry caused the company to bring back the old formula, now re-branded as “Classic Coke”. In a political context, voters who are dissatisfied with their party’s policies can vote for another party ...

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