Armchair economist

And in a world where Oprah can bring Jenny McCarthy on television and convince thousands of households that vaccines are unsafe, I strongly question the idea that Americans have any clue what treatments they actually need, and I'd note that poor health decisions can impose real costs on others.

the worldly philosophers

When the higher demand for housing in San Francisco has raised housing prices there and the lower demand in Lincoln has dropped prices there—to the point where the two places are equally attractive. If I have a million millionaires, who each earn 10 million a year, and I tax 1 million from them and give it to the poor, I have not made my society richer in absolute monetary terms, but this completely ignores one of his other insightful claims.

Critically, and I must give credit where credit is due, the economist in question recognizes that labour is not valuable in and of itself, but the fruits of said labour are.

Armchair economist

If nothing else, seeing poor people beg around you does have a tendency to be a wee bit depressing. But that ignores why legalization of drugs would cause their prices to fall. There may be an extra cottage in Aspen un-purchased, a Mazzerati sp undriven, or some classy couture unworn. Let us say, that we tax the million millionaires earning 10 million dollars a year at , dollars annually. But it does have a value. I wonder, too, why some economists think that it's efficient for households to spend the considerable amount of time investing in the medical knowledge that would be required to make educated treatment decisions. While some might wish they had an extra 10 Ferragamo shoes to wear, I am guessing others feel happy that the poor are better off. It's on health care, and while I disagree with much of the content, I respect the audacity of the policy proposals: Get our daily newsletter Upgrade your inbox and get our Daily Dispatch and Editor's Picks. Dennis has many such arguments and Landsburg does a good job of taking them apart.

In short, unusual preferences pay off. Bush relaxed import restrictions on Japanese trucks, Bill Clinton complained that the United States got nothing in return.

Freakonomics

If I have a million millionaires, who each earn 10 million a year, and I tax 1 million from them and give it to the poor, I have not made my society richer in absolute monetary terms, but this completely ignores one of his other insightful claims. There are good alternatives to insurance. This insight, the fact that value must be attached, as hard as it may be, to non nuts-and-bolts numbers is true I don't know the number, but I would imagine that if a suitably ludicrous offer was made for 40 acres in Marin, that love of nature could be quantified. Bush answered that what he had gotten was the Japanese government to open its market to U. It is insightful, disarmingly simple and yet sophisticated and, at the same time, provocative, passionate, and witty. So if I work my ass off and buy an Ipod, it is my enjoyment out of the purchase which is the true reward I could have done anything with my time, like work, but I chose to spend it in this particular manner, and that is worth something. There may be an extra cottage in Aspen un-purchased, a Mazzerati sp undriven, or some classy couture unworn. Still think taxes don't produce anything Mr Economist? For the first time ever while reading an economics book, I felt like I understood the contempt held for the 'dismal science'. In short, unusual preferences pay off.

In actual dollar transfers, no one is richer or poorer. Let us say, that we tax the million millionaires earning 10 million dollars a year atdollars annually.

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But that ignores why legalization of drugs would cause their prices to fall. Bush answered that what he had gotten was the Japanese government to open its market to U. It's on health care, and while I disagree with much of the content, I respect the audacity of the policy proposals: Get our daily newsletter Upgrade your inbox and get our Daily Dispatch and Editor's Picks.

I could have done anything with my time, like work, but I chose to spend it in this particular manner, and that is worth something.

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Urban Dictionary: Armchair Economist