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Category Archive for 'Price System'

I wonder how, in the long-run, people will respond to this. On the one hand, the favorite trope of many is that markets fail, particularly insurance markets, because of the asymmetric information problem. On the other hand, there are always going to be huge concerns about privacy when it comes to the many solutions like […]

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Priceless

Tim Taylor talks about Keynes’ view on secular stagnation, investment and the government’s role in managing aggregate demand: Keynes begins by stating: “It seems to be agreed to-day that the maintenance of a satisfactory level of employment depends on keeping total expenditure (consumption plus investment) at the optimum figure … The problem of maintaining full […]

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The NY Tiimes today reports on a new “study” of chemical contamination due to gas drilling in Bradford, PA (not too far from us here in Rochester): An analysis of drinking water sampled from three homes in Bradford County, Pa., revealed traces of a compound commonly found in Marcellus Shale drilling fluids, according to a […]

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It’s Virtually All Non-profits

I highly recommend almost anything written by George Stigler. Don B. posted this quote the other day: … is from page 14 of George Stigler‘s entertaining 1988 autobiography, Memoirs of An Unregulated Economist: A large number of successful businessmen have gone on to high administrative posts in the national government, and many – I think most […]

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Health Dog Bites Man

Does paying for even some medical care out of pocket reduce costs over time? Here is the latest: using data from 13 million individuals in 54 large US firms to estimate the effects of a firm offering CDHPs on health care spending up to three years post offer. … We find that spending is reduced […]

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(1) Corporations like Walmart disproportionately benefit from the existence of antipoverty programs like Medicaid and Food Stamps. Why? Because when these are available to people, Walmart does not have to provide people with a wage that, alone, would be enough for these workers to sustain themselves since the government is already providing it. (2) Corporations […]

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The old Wonkbloggers are at it again. We are scolded that “It is not OK to have a second refrigerator.” I happen to have 2 fridges and 3 freezers in my house. Both his premise and conclusion are wrong and that’s entirely excepting the smug and offensive attitude. Without a lecture: 1. It very clearly […]

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Story is here. Note, too, that this is an “agreement” which means it will not actually be enforced. My prediction: emissions will fall despite this “agreement” not being enforced, and policymakers will take credit for the incredible progress “they’ve” made. But this is undeniably great news for Americans and energy poor people around the planet. […]

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It turns out that Californians have successfully made their lives less comfortable by banning plastic bags. As you surely know this is yet another feel good policy that will accomplish almost nothing in the way of real environmental benefits.  Now, I have no problem with people making poor choices especially with their own funds, and […]

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