http://theunbrokenwindow.com/2009/03/31/money-and-happiness/ The curious task of economics is to demonstrate to men how little they really know about what they imagine they can design. - F.A. Hayek Wed, 08 Feb 2012 16:43:18 +0000 hourly 1 http://wordpress.org/?v=3.0.3 http://theunbrokenwindow.com/2009/03/31/money-and-happiness/comment-page-1/#comment-3600 Harry Wood Wed, 01 Apr 2009 04:34:13 +0000 http://theunbrokenwindow.com/2009/03/31/money-and-happiness/#comment-3600 The reason why some people do not care about how much Wintercow's happiness is affected by their economic transgressions, and one reason the justify progressive taxation, is that they figure you won't miss it, just like you will not notice your electric bill or your fuel oil bill (Rochester!) going up after we get rid of coal and other fossil fuels. This is the same thing the thief thinks when he robs your house and takes your great-aunt's silver out of the attic, or, more boldly, one of your two shotguns. What need would anyone have for one gun, let alone two, or another dozen forks that have to be polished? The reason why some people do not care about how much Wintercow’s happiness is affected by their economic transgressions, and one reason the justify progressive taxation, is that they figure you won’t miss it, just like you will not notice your electric bill or your fuel oil bill (Rochester!) going up after we get rid of coal and other fossil fuels. This is the same thing the thief thinks when he robs your house and takes your great-aunt’s silver out of the attic, or, more boldly, one of your two shotguns. What need would anyone have for one gun, let alone two, or another dozen forks that have to be polished?

]]> http://theunbrokenwindow.com/2009/03/31/money-and-happiness/comment-page-1/#comment-3593 Brad Taylor Tue, 31 Mar 2009 19:57:35 +0000 http://theunbrokenwindow.com/2009/03/31/money-and-happiness/#comment-3593 I guess some behavioural economists might suggest that since we weigh gains and losses asymmetrically a rise in income may have little or no affect while a loss does. I don't agree with that, but it's a logical possibility. I guess some behavioural economists might suggest that since we weigh gains and losses asymmetrically a rise in income may have little or no affect while a loss does. I don’t agree with that, but it’s a logical possibility.

]]>