in the wrong era. Soundly refuting
liberals online since 2000. NOTE: That is NOT
me pictured at left. :)
| WSJ | World: Europe Girds for Greek Exit |
0 |
| Shark Tank | Developing: Wasserman Schultz On Verge of Being Cancelled at Temple Israel |
0 |
| T’graph | 0 | |
| NYT | Policy: Romney Calls Education ‘Civil Rights Issue of Our Era’ and Urges Shift |
0 |
| RCP | Campaign 2012: Why Tuesday’s Democratic Primaries Matter |
0 |
Audacity of Truth
"Diplomacy":
"People are saying what in the world is going on with North Carolina, we look like Mississippi." - NC Gov. Bev Perdue (D) on the passage of Amendment One, 5-11-12
Econ 101: the perils of Moral Hazard
I’ve occasionally posted videos from the Center for Freedom and Prosperity, an ally or affiliate of the libertarian Cato Institute, that touch on aspects of economics and why government intervention in the free market often causes more problems than it solves. In this offering, the speaker discusses “moral hazard,” in which government interventions provide incentives for people to engage in irresponsible behavior:
What I like about this series is that it teaches economics by focusing on human behavior, rather than abstruse formulae and obscure jargon, and I recommend taking the time to watch them all.
(Crossposted at Public Secrets)
RSS feed for comments on this post.
Theory is fine in theory, but the reality is that academic theorists are not responsible for any “unintended consequences”.
That means that, in spite of numerical and abstract proof, none of those theorists is held responsible for the economic, spiritual and social havoc they wreak upon the public in general and the poor in specific.
The world would be a much nicer place if they were held responsible because they would be punished for that havoc.