ARNOLD KLING
August 14, 2011
The Top Political Contributors
August 11, 2011
Gender and the New Commanding Heights
August 11, 2011
Jamie Galbraith Makes an Assumption
August 11, 2011
Macroeconometrics: The Science of Hubris
August 10, 2011
Real and Nominal Bond Yields
BRYAN CAPLAN
August 14, 2011
The Effect of Thumb Sucking on Income
August 12, 2011
The Voice of Cold, Hard Truth to All Would-Be Educators
August 12, 2011
Ability, Morality, and Prosperity: A Paper and a Report
August 11, 2011
The Theory of Time and Frittering
August 10, 2011
Male Variance and the Remnants of the Gender Gap
DAVID HENDERSON
August 9, 2011
Hayek in "Unbroken", Part Two
August 8, 2011
Hayek in "Unbroken"
August 5, 2011
James Bovard on the Peace Corps
August 4, 2011
Summers Way Off on FDR and 1941
August 3, 2011
The "Amazon" Tax


That is a very powerful use of anecdotal evidence to bring home and make real to people the facts about drug innovation, but in very powerful human terms. For some reason those on the economic and labor left seem to often be confined to a zero-sum, static view of the economy and issues in general, with less regard for future results and outcomes. Michael Moore especially appears to have a Delta value of close to zero when it comes to factoring in future value.
David L - "those on the economic and labor left seem to often be confined to a zero-sum, static view of the economy and issues in general"
This is not quite correct. Its true if you confine yourself to consideration of material goods - better health care, cleaner environment, cooler gadgets - but its not true if you take account of the smug feeling of togetherness that tax funded health and education appear to engender in large numbers of people. My experience as a UK citizen is that people seem to get a huge amount of utility from the fact that "we" (ie other tax payers) are looking after the poor and needy (ie me and people just like me).
I as a doctor often prescribe American brand drugs for my patients although they are named different here in Europe... Andre
The other day, I told my physician, "I love the pharmaceutical companies!" He was rather surprised, to say the least. In the past eight years, five newer, "expensive" medications have improved my life far beyond their cost. My quality of life would be much reduced without the existence of these drugs. Thank you, Big Pharma. You've done more for me than most.