A lot of Americans dislike the Affordable Care Act (ACA or Obamacare) because they say it expands government too much and will increase taxes. As Milton Friedman accurately said, for the government, to spend is to tax. So how big is…
Blog Archives
Freedoms = Rights — Machine Gun Edition
Updated 2023/01/03 As Isaiah Berlin said, freedom for wolves is death to the lambs. Everyone likes more freedom, but all the freedoms that people debate about are contentious because increasing one person’s freedoms reduces the freedoms of others. In theory…
Replace GDP With Median Income
UPDATE: See the MELI FAQ for more up-to-date information about how and why we should reform the use of GDP. The reigning measure of economic progress and development is GDP per capita. Sure the United Nation’s Human Development Index (HDI)…
Posted in Medianism, MELI & Econ Stats
The Fed Doesn’t Care Much About Unemployment, But It Could Do Much Worse
Paul Krugman writes that wages are stagnant because unemployment is high and the owners of capital/corporations like that just fine. Their profits are up 60% above where they were before the recession began whereas compensation of employees is only up…
Is It Harder For Poor Illiterate White Guys Or Rich Black Harvard Law Graduates To Get Arrested?
Bobby Constantino wrote an amazing story about how hard it was to get arrested as an educated white guy wearing the uniform of the upper-class, a suit and tie. It is well worth reading. He is a hero for the…
Posted in Discrimination, Labor
Complaints About Moral Hazard In Health Care Are Frequently Immoral
Mutilitarianism is money-metric utilitarianism in which ‘the social good’ is measured in money according to each individual’s willingness and ability to pay (WAP). One of the immoral tenets of standard economics is the mutilitarian idea that the demand curve (WAP)…
Queues in Time or Money
In my health economics class, students often think that America has faster waiting times for medical procedures than other nations because they have heard about healthcare systems like Canada that have waiting lists for procedures that the government considers to…
Posted in Medianism, Public Finance
Medianism 