Liveblogging World War II: July 5, 1943
Paul Krugman: How Long Can This Go on?

The Wall Street Journal Calls for Egypt's Army to Herd Political Activists into Soccer Stadiums and Shoot Them

Why oh why can't we have a better press corps?

The Wall Street Journal:

Review & Outlook: After the Coup in Cairo: Egyptians would be lucky if their new ruling generals turn out to be in the mold of Chile's Augusto Pinochet, who took power amid chaos but hired free-market reformers and midwifed a transition to democracy…

"Midwifed a transition to democracy" is not how most Chileans see it.

And, in comments, Regli reminds me of Hayek's enthusiasm for Pinochet's methods:

At the beginning of the Great Depression… I believed that a process of deflation… might break the rigidity of wages which I thought was incompatible with a functioning economy…. I still believe that we shall not get a functioning economy until wages again become flexible, hut I think that we shall have to find different techniques for that purpose…