Article Image

IPFS News Link • Taiwan

Why Taiwan Hasn't Shut Down Its Economy

• https://fee.org/articles by Javier Caramés Sanchez

As the Austrian school of economics demonstrates in the calculation theory of socialism, no central planning body has the capacity to organize society based on coercive mandates. The main reason is that the central planner is unable to obtain all the necessary information to organize society in this way, as information has subjective, creative, dispersed, and tacit qualities. This principle is fully applicable to the containment of a pandemic. Individual responsibility along with transparency of information are crucial to stopping a pandemic. Taiwan makes a very good case for how individualism and voluntary cooperation work effectively in resisting the coronavirus pandemic.

Close to the Chinese Mainland, but Relatively Few People Infected

At the moment in Taiwan, the infection has been completely contained despite being one of the countries with the highest risk of suffering a pandemic, given that the Republic of China (ROC) is very close to the Chinese mainland (the People's Republic of China (PRC)).


JonesPlantation