Robert Blumen on the futility of economic stimulus

The US economy does have an excess of unemployed workers, empty storefronts, and idle resources of all kinds.  Why not give it a go?  A bit of stimulus could not hurt. 

Not. So. Fast. 

...The problem is not a pricing problem. The problem is that businesses have been prohibited from operating...  Resources are not priced out of the market.  People and businesses are instead banned from producing. This is a problem that pricing cannot solve because the transactions are not allowed.  Venues can legally operate only at a reduced capacity at which they are not profitable.  We have a “making it illegal to produce things” problem.  And stimulus can’t do anything about that even if you are stupid enough to be a Keynesian.

~ Robert Blumen, "Why Stimulus Does Not Stimulate," Mises.org, June 15, 2021