Category Archives: Economics

Business, Economics, Media Criticism, Political Commentary, Science And Society

More Waxman-Markey Thoughts

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On progressive “realism”:

It’s funny how so many liberals have become “realists” of late, insisting that we can’t expect to cajole sovereign nations into doing what we think is right if it’s not in their interests, but the same liberals insist that if we hobble ourselves with the dull-rusty axe of cap-and-tax, our example will inspire other nations to do likewise. Yes, yes, liberals will likely say that fighting global warming is in these nations’ interest, but they just don’t realize it. Well, maybe. But who are we to tell these countries what their interests are? Isn’t that the sort of imperial hubris these folks usually denounce? Regardless, there’s zero evidence and sub-zero reason to believe that countries such as China and India will ever be inspired by our action on global warming.

As he says, W-M may not accomplish much, but at least it’s expensive.

Business, Economics, Media Criticism, Political Commentary

Intended Unintended Consequences

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Gee, ya think? Senators Worry That Health Overhaul Could Erode Employer Insurance Plans.

Hey, guys. That’s the whole idea.

And Blanche Lincoln doesn’t get it:

Senator Blanche Lincoln, Democrat of Arkansas, said preserving employer-sponsored insurance “needs to be a huge objective.”

No, senator. The “huge objective” should be to get people out of plans that are tied to their employers, and into their own private plans that are portable, by leveling the tax-deduction playing field.

The United States Chamber of Commerce and the National Federation of Independent Business, which represents small employers, said the proposed requirement amounted to a new tax and would frustrate the creation of jobs.

Only an economic ignoramus (i.e., much of the Congress) would think otherwise. So a company has a choice of hiring someone who doesn’t need or want insurance (because she’s young and healthy, or has it through her husband’s plan) but the cost of hiring her is buying a redundant policy for her to government specs. Guess what? Others will work overtime instead. That’s assuming that the business case closes for the business to get started at all, of course.

Business, Economics, Media Criticism, Political Commentary, Science And Society, Technology and Society

The Case Against Waxman-Markey

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Here. Bottom line:

Waxman-Markey would impose costs at least 10 times as large as its benefits, would not reduce the deficit, and doesn’t even really cap emissions.

But other than that, it’s a great idea.

Not to mention that the bill is twelve hundred pages long. I wonder if they’ll be given an opportunity to read it?

[Afternoon update]

What this bill will and won’t do for the climate.

Business, Economics, Media Criticism, Political Commentary

Liars

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The problem with the Obamacare scam:

Faced with incontrovertible evidence that he and his allies have no intention or ability to fulfill their commitment to Americans regarding their current coverage, President Obama decided today at his press conference to try to redefine the promise. What he meant, he now says, is that the government wouldn’t force people out of their health-care plan. If tens of millions of people get pushed out of their current coverage, it would be because firms chose to drop their insurance plans — never mind the fact that they would do so based on the financial incentives the government put in place.

They must think we’re stupid. Of course, based on last November’s election results, they have some basis for it.

Business, Economics, Media Criticism, Political Commentary, War Commentary

Barack Obama…

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…meet reality:

Whew! What happened? Well, that, no doubt, is what the Obama team must be wondering. It is not merely the president’s poll numbers which are crumbling; it is the premises which formed his world view and domestic agenda which are disintegrating. The world is a dangerous place with despots immune to even “smart diplomacy.” Governments really can’t spend their way to prosperity. And even in an economic recession America remains a right-of-center country.

Obama, it seems, never confronted a critical media or a viable political opponent who could effectively quiz him on his assumptions and policy prescriptions. He waltzed through an election on essentially a “not Bush” campaign and a cloud of feel-good messages ungrounded in the real world. But once in office he finds the world — filled with rogue states, recalcitrant laws of economics, squirrely citizens, and cold, hard budget numbers — is not so easily charmed. Facts are stubborn things, after all.

I always find hilarious the lack of irony with which these people presume to call themselves the “reality based community.”

Business, Economics, Media Criticism, Political Commentary

At Least He’s Being Honest

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Sort of:

I’m…glad to see that Ezra Klein is explicit about his acceptance that climate change is expected to have extremely limited effects on the United States for at least the next hundred years. I figure that ought to be pretty important when debating the proper policies for the government of the United States. On the other hand, we continue to disagree about the financial efficiency of the foreign aid program defined by transforming the energy sector of the American economy in order to very slightly ameliorate a predicted problem that might affect people who might live in low-lying equatorial regions of the world decades from now.

As Bjorn Lomborg would say, it’s a lousy deal. But of course, it’s not about economic efficiency. It’s about forcing everyone into the secular religion of our moral betters.

[Early afternoon update]

Keep the lights on! Fight the bill.

Business, Economics, Political Commentary

Major Economic Downturn

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Women, children, minoritiesMen hit hardest:

The senior economists listened attentively as Gandy and Smeal and other advocates argued for a stimulus package that would add jobs for nurses, social workers, teachers, and librarians in our crumbling “human infrastructure” (they had found their testosterone-free slogan). Did Furman mention that jobs in the “human infrastructure”–health, education, and government–had increased by more than half a million since December 2007?

One could pardon him for not being argumentative. His boss at the economic council, Lawrence Summers, had become a national symbol of the consequences of offending feminist sensibilities and had been opposed by feminists in his appointment to the top White House post. Gandy and Smeal found their circle partners to be engaged and curious and were delighted that they stayed longer than scheduled: “We left feeling that all our preparation would bear fruit in the form of more inclusion of women’s needs, and we were right.”

They were right indeed. Our incoming president did what many sensible men do when confronted by a chorus of female complaint: He changed his plan.

No one will ever accuse him of being a strong man. Or a sensible one, actually.

Business, Economics, Media Criticism, Political Commentary

Getting Their Wish

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The “social progressives” are always complaining because we’re not more like Europe. Well, they can stop whining now:

The US unemployment rate exceeded Germany’s rate in April and was very close to the rate in France.

Spreading the wealth around. And the poverty.

[Update a few minutes later]

A depressing chart of how hard it will be to recover.

[Update a few minutes later]

My piece on Munchausen’s Syndrome By Proxie is up at Pajamas Media (I wrote it a couple weeks ago, but Iran had kept it off the front page, and I have a feeling it will be relevant for a long time, unfortunately).