Monthly Archives: December 2013

Two Views of Obamacare

1. The Washington Post editorial page: Republicans, many of whom claim to favor market approaches to expanding health-care coverage but oppose excluding patients with preexisting conditions, can’t credibly balk at the natural results of competition organized under those very principles. … Continue reading

Posted in Economics of Health Care, Mark Thoma is Indispensable | 14 Comments

Culture and Institutions

Alberto Alesina and Paula Guiliano write, We have shown how certain institutions need to “fit” with the dominant culture, such as regulatory policies regarding, for instance, the welfare state, financial regulations, or the functioning of the labor market. On the … Continue reading

Posted in Growth Causes and Consequences | 1 Comment

Youth, Age, and Entrepreneurship

Edward Lazear writes, we found that young societies tend to generate more new businesses than older societies. Young people are more energetic and have many innovative ideas. But starting a successful business requires more than ideas. Business acumen is essential … Continue reading

Posted in Growth Causes and Consequences, Mark Thoma is Indispensable | Comments Off

Larry Summers on the Great Factor Substitution

He said, If there are only two factors, they have to be complements. If there’s more capital, the wage has to rise. Now imagine that…you can take some of the stock of machines and, by designing them appropriately, you can … Continue reading

Posted in Growth Causes and Consequences, income distribution-wealth-poverty, links to my essays, Tyler Cowen is my Favorite Blogger | 4 Comments

Merry Christmas

From The Guardian (the story has appeared in several outlets). Turner said a “magic pill” that reverses ageing is several years away, partially due to the cost of the compound, which would be about $50,000 a day for a human. … Continue reading

Posted in Uncategorized | 2 Comments

Bernanke and History

the WSJ presents Five takes, three positive and two negative. Michael Bordo writes, During the Fed’s first 100 years, it has shifted gradually from being a banker-run to an economist-run central bank, culminating in Ben Bernanke’s assumption of the chairmanship … Continue reading

Posted in Financial Crisis of 2008 | Comments Off

Two Findings in Search of Explanations

1. Yihui Pan, Tracy Yue Wang, and Michael S. Weisbach find that disinvestments are fairly common in the early years of a CEO’s tenure, and that these disinvestments decrease with tenure. Investments, on the other hand, are relatively low in … Continue reading

Posted in behavioral economics, business economics, Timothy Taylor is my Favorite Blogger, Tyler Cowen is my Favorite Blogger | 3 Comments

Public Choice 101

From Cathy Reisenwitz. Earlier this year, Center for American Progress donor Citibank hired lobbyists to literally write 70 out of 85 lines of a bill regulating derivatives trading which passed the House. If this regulation was meant to hurt Citibank’s … Continue reading

Posted in Introductory Economics, public choice | 7 Comments

Another Obamacare Glitch

Stella Paul reports, Millions are losing their health insurance policies and being forced onto the ObamaCare exchanges, where most plans only provide local medical coverage. As Americans realize they must pay for all non-emergency medical care when they leave their … Continue reading

Posted in Economics of Health Care, Politics | 8 Comments

Health Insurance Corporatism

James A. Morone, of Brown University and Brookings, writes, The ACA itself has two large programmatic components. One is a classical Republican idea: health insurance marketplaces. The other expands a program from the Democrats’ halcyon days: Medicaid. The red half … Continue reading

Posted in Economics of Health Care | 3 Comments