Tag Archives: economics

How did we get this finance industry?

As a share of American GDP, the finance industry has doubled in size in the past 40 years, to over 30% of American Corporate profits.  Many argue that this presents a real problem for the long-term stability of the U.S. … Continue reading

Posted in Uncategorized | Tagged , , | 1 Comment

A Rationality Pill?

Suppose that you are a person who suffers from what an economist would call a “high discount rate.”  You tend to attach very little importance to the long-term consequences of your actions.  As a result, you smoke and drink a … Continue reading

Posted in Uncategorized | Tagged , , | 8 Comments

How medicare sets hospital prices

The great Uwe Reinhardt presents a useful primer to the discussion of health care reform that should interest OPers (mindful as they are of the importance of primary social goods).  I supervised a remarkably thoughtful (and empirically informed) thesis on … Continue reading

Posted in Uncategorized | Tagged , , | Leave a comment

More on Living within our Means

Here.

Posted in Uncategorized | Tagged , | Leave a comment

The Media, Pennant-Racing, and Living Within Our Means

A popular narrative of the recent election is that Americans are fed up with the federal government’s inability to “live within its means.”  Real American people have to; state governments have to (more or less); the federal government should as … Continue reading

Posted in Uncategorized | Tagged , , , , | 10 Comments

Wealthy Society out of Balance?

I thought I ought to follow the example of my fellow original positioners and post from my summer reading list. Today’s reading was John K. Galbraith’s The Affluent Society (1958). Galbraith begins his famous chapter on the “Theory of Social … Continue reading

Posted in Uncategorized | Tagged , , | 2 Comments

Debt, Stimulus, and Health Care Reform

Bloggingheads considers the long-term fiscal ramifications of legislation passed under the Obama administration.

Posted in Uncategorized | Tagged , | 2 Comments

Rationality and Fantasy Baseball

Lately I’ve been thinking about rationality.  Specifically, I’ve been thinking about the ways that economic models presuppose that individuals consistently act in their rational self-interest (and what economists count as a rational self-interest). Lately, I’ve also been thinking about my … Continue reading

Posted in Uncategorized | Tagged , , | 7 Comments