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
Posted in Politics on Jul 26th, 2009
In case any of you are surprised by the title of the post, the following chart from the New York Times tells a nice story: You should look where all the support for such a policy is coming from. It is not surprising that politicians seek out issues where there are huge unexploited opportunities for [...]
Posted in Corporatism, Health Care on Jul 25th, 2009
I’m ill.
Posted in Health Care on Jul 25th, 2009
Now that the first attempt at passing health care is stalled (it will come back with an ugly vengeance soon enough), the Chosen One is touting a new study, done by the White House, demonstrating that small businesses pay more per employee for health care coverage than large employers. Why am I still amazed that [...]
Posted in Economic Illiteracy, Extended Order, trade on Jul 24th, 2009
Monroe County (the country where Rochester resides; outside the city are many quaint villages and still lots of pretty farmland): Eat fresh, buy local, grow Monroe! In their Grow Monroe brochure they celebrate, in pages facing one another: (1) Our county is home to successful national food brands, and then (2) Smart “buy local” choices [...]
Posted in Competition, Government Gone Wild, Politics on Jul 23rd, 2009
This just came across the AP: NEWARK, N.J. (AP) — The mayors of two New Jersey cities and a state legislator are under arrest Thursday as part of a major corruption and international money laundering conspiracy probe. Federal prosecutors say about 30 people have been arrested. They include Assemblyman Daniel Van Pelt, Hoboken Mayor Peter [...]
Posted in Flotsam and Jetsam on Jul 23rd, 2009
Who knew that garage door repairs were so expensive? We just had a spring break on the door – I was thinking it would cost $100 or so to get it fixed. Turns out that the cost to replace the spring system is $618. After writing the check, the irritating little voice in my head [...]
Posted in You Can't Have it Both Ways, trade on Jul 22nd, 2009
It is to find data on the average wages of various American workers, or how many Americans go without health insurance, with data on typical union dues, assets and income as required by the Labor Management Reporting and Disclosure Act (LMRDA). I’ll be showing you some of the data later. For a nibble, consider that [...]
Posted in Inequality on Jul 21st, 2009
Some folks argue that “we” are too obsessed with income, and that more income, at some point, does not mean more happiness. Their obvious conclusion is that higher taxes on “the rich” are not only OK, but justifiable on some cosmic level. But others have pointed out, rightly, that there is much more to inequality [...]
Posted in Employment on Jul 21st, 2009
Our family recently returned from a trip to the Lehigh Valley. The old and storied Bethlehem Steel has been out of business for several years and has recently been converted into a casino. The casino dealers seem to have been organized … by the United Auto Workers (I am not sure these workers were, or [...]
Posted in Flotsam and Jetsam, Religion on Jul 20th, 2009
“Liquidation Sale.”
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