Here is the latest from Vox: Obamacare succeeded for one simple reason: it’s horrible to be uninsured So here we’ve come. Now the entire health care reform is a success because … people signed up for it. That’s sort of a low bar isn’t it? Well, maybe not: The health-care law beat its mark because it […]
Category Archive for 'Economic Illiteracy'
I follow environmental news quite closely, and picked up this one today: Saving dying lake is priority for Iranian leader So read just a few sentences into the story and you see this: Lake Oroumieh, one of the biggest saltwater lakes on Earth, has shrunk more than 80 percent to 1,000 square kilometers (nearly 400 […]
Now it seems that the offering of options to people is now morally questionable, and perhaps even exploited: “This means that even if you have no possessions to sell and cannot find a job, nobody can reasonably criticise you for, say, failing to sell a kidney to pay your rent. If a free market in […]
One of the most common conceptions I encounter when I talk about how insurance works (and the “adverse selection” problem that “can” result when it doesn’t) is that, “it’s stupid for healthy people to buy health insurance.” You can generalize this by people thinking that it’s stupid for people who have homes that are not […]
In this short Youtube clip, author and food activist Michael Pollan argues: Milk will always be the maximum number of paces from the door, and the reason is that most people want to get a quart of milk and they want them to pass as many other things as possible on the way — so […]
Let’s tax corporations more. After all, they have plenty of profits. OK, I agree. Then I hope you all get on board with the following proposal. Let’s impose a 10% tax on all “schools’” revenues. After all, schools, especially places like where I work, take in BILLIONS of dollars of revenue. They employ and they […]
Try this on for size: Evidence indicates that the price elasticity of demand for labor is quite high, at least 3. That is, an increase in average wages of 1% would lead to at least a 3% decline in the number of hours of work demanded by employers. Labor economists believe, however, that the price […]
Posted in Classical Liberalism, Competition, Corporatism, Economic Illiteracy, Economics Problems, ethical foundations, Government Thuggery, If I Really Hated the Poor ..., Market Failures, Methodology, Politics, Religion, Voluntary Society, You Can't Have it Both Ways on Dec 10th, 2013
The “left” sees the last 34 years as a revival (was there ever a VIVAL?) of laissez-faire dogmatism. Some folks like myself see it as almost the diametric opposite. Of course, some of this could be “settled” by empirical evidence. The number of pages of regulations? The dollars spent complying with regulations? The number of […]
Last week, former CEA Chair and current Harvard economist Greg Mankiw points us to yet another rhetorical flourish by the Commander in Speech: The CEA Fact Checkers Miss One In his speech yesterday, President Obama said, Now, we all know the arguments that have been used against a higher minimum wage. Some say it actually hurts low-wage […]
from Tim Taylor. Here are some older thoughts on mine on taxing the rich more. And here.