Homines libenter quod volunt credunt
Posted in Politics on Mar 22nd, 2010
In tomorrow’s WSJ: Mission Accomplished “Tonight, at a time when the pundits said it was no longer possible, we rose above the weight of our politics. We pushed back on the undue influence of special interests.”–Barack Obama, celebrating the House’s passage of ObamaCare, March 21 “Gordon Witman of PICO, Richard Kirsch of Health Care for America […]
Posted in Economics Problems, Economists on Mar 22nd, 2010
Nobel Laureate Joe Stiglitz has a new piece in the Economists’ Voice. Here are a few examples of his use of scientific economic language: But despite protests by yesterday’s proponents of deregulation, who would like the government to remain passive, most economists believe that government spending has made a difference, helping to avert another Great […]
Posted in Government Gone Wild, Health Care on Mar 22nd, 2010
Let’s take a little look at how government spending on Medicare and Medicaid has increased since their inception, versus how private spending (in a heavily regulated world) has increased over that same time period. Between 1970 and 2008, government spending on Medicare and Medicaid grew from $28.1 billion to $1.107 trillion.Adjusting for inflation, the $28.1 […]
Posted in Health Care on Mar 22nd, 2010
An epidural, before insurance, costs about $1,000 in the U.S. – this would not be an unreasonable assumption as to how much the attending doctor makes from administering such a procedure. Estimates are that in Canada the same procedure would leave doctors with only $100 in their pockets. Would you hang around a delivery room […]
Posted in ethical foundations on Mar 22nd, 2010
Sam Peltzman wrote of this 40 years ago. Liberal economist Larry Summers wrote about it 20 years ago. The paradox is quite simple. Suppose the government provides universal free services, such as education, of modest or even good quality. Many people would rationally find it optimal to consume the “free” product than to pay higher […]
Posted in Regulation on Mar 22nd, 2010
I would pass laws like this: Louisiana is the only state that requires florists to obtain a government-issued license before they may create and sell floral arrangements. It’s for safety you know, and quality too. Because god forbid a rogue florist is out there selling human eating venus flytraps or making ugly arrangements. But it […]
