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Cigarette taxes, the most regressive tax in America.
Some people still refuse to accept the Received Wisdom from Very Smart People that government housing and mortgage policy had no effect whatsoever on either housing prices or mortgage markets.
Accurate description of the function of a Matthew Yglesias in modern politics.
How we were lied to about health care might be more earth-shattering if all these Noble Lies weren’t apparent to everyone – including the ones who uttered them – at the time.
Standard politicized reasoning.
Why has oil become so much cheaper in America than in Europe?
David Henderson is unconvinced default must be avoided at all costs; rightly so (“___ must be avoided at all costs” is almost always false and indeed a bit of a self-contradiction; even at the cost X = [the cost of the thing you’re trying to avoid] x 2?).
What President Obama means by a ‘thriving middle class’.
Canadian social mobility disappoints progressives and defies their baseless assumptions about it: ‘In Canada almost 7 out of 10 sons born to a father in the top 1% of the earnings distribution had a job with the very same employer as their fathers’. My suspicion is we in the U.S. tend to underestimate the corruption and mafia-ness present in Canada. You know, because they’re nice, and because of Degrassi Jr. High, etc.
Noah Smith on David Graeber on debt wonders how exactly lending money to people who don’t pay you back counts as a wealth-extraction scheme. Ditto that.
Arnold Kling calls out some econ bigshots who don’t know what the hell they’re talking about when it comes to mortgages but still felt free to sound off about, and conjure out of thin air, supposedly Smart mortgage policy.
Byran Caplan actually inadvertently hits upon a great idea re: illegal immigration: ‘Hand out green cards to illegal immigrants who turn in their employers for minimum wage violations.’ RTWT; the logic is sound and the feedback effects would be salutary all around.
David Friedman explains why even if global warming is a problem, we aren’t going to do anything about it.
I have just learned that this ‘business cycle’ economists are always jabbering about is not a cycle. Does ANYTHING economists say make sense?
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