The Brookings Institution updated a good article earlier this month showing the dashboard that the Federal Reserve leadership uses to steer the US economy using the “most important[¡¿]” measures. This “array of gauges” gives useful information, but it lacks anything…
Blog Archives
Lies (or Stupidity), Damned Lies (or Stupidity), and Statistics
A family member who has a history of opposition to efforts to reduce racial discrimination emailed me an article by Paul Sperry entitled, “Eric Holder believes all cops are racists…” Sperry claims that Holder’s efforts to reduce unconscious racial bias have…
Doctors Don’t Put Up With Much Moral Hazard From Medicaid Patients
I teach health economics to medical professionals and every year many of them say they perceive greater moral hazard among Medicaid recipients than among the rest of us. I think this perception is partly due to the way the economics…
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)…
It Is Rich to Blame Robin Hood For Recessions
A recession is a decrease in total production. There are two possible reasons why this could happen. One is a decrease in aggregate supply caused be a decrease in productivity and the other is a decrease in aggregate demand caused…
Libertarians Often Care About Millionaires More Than The Median
Today Tyler Cowen writes that “Singapore is inequality on steroids” and he notes how inequality is causing increasing segregation and rising indebtedness due to exorbitant car and housing prices, but he is a big fan of the Singapore model. He…
The Welfare of Businesses Is Irrelevant And Elitist
Russell Berman and Bernie Becker at The Hill recently wrote that both Democrats and Republicans are claiming that they are defending the wellbeing of, “American families and small businesses” from the other party who is protecting corporate interests and Wall…
Medianism 