Even people who see the value of basic economic principles might dispense with those principles during times of emergency. They shouldn’t.

George Mason University economist Peter Boettke made that argument during a presentation to the John Locke Foundation’s Shaftesbury Society. In the video clip below, Boettke outlines a key problem with “emergency room” economics.

2:05 p.m. update: Click play below to watch the full 53:05 event.

You’ll find other John Locke Foundation video presentations here.