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Arnold Kling: December 2005
An Author Archive by Month (25 entries)
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December 30, 2005
Information Goods, Intellectual Property
Arnold Kling
"New Economist" writes, The latest issue of First Monday carries an article by Daniel J. Cohen and Roy Rosenzweig which shows that on at least basic historical facts, the internet can provide a surprisingly accurate indication of the historical consensus...... MORE
Economics of Education
Arnold Kling
James C. Garland writes, state higher-education budgets are not targeted efficiently. By way of comparison, consider the food stamp program, which in 2004 paid out $27 billion directly to 24 million low-income Americans. Imagine if there were, in its place,... MORE
December 29, 2005
Growth: Consequences
Arnold Kling
I have an essay on what I call the Most Important Economic Story of the Year. The average productivity growth rate in the last five years is the highest over the past half century. For Discussion. What do you think... MORE
December 28, 2005
Growth: Consequences
Arnold Kling
As an end-of-year type post, here is a list of economic stories that I think will be worth following next year. Note that all of them are long-term stories, which won't be resolved in 2006 alone.... MORE
December 26, 2005
Economics of Education
Arnold Kling
The Washington Post reports Literacy experts and educators say they are stunned by the results of a recent adult literacy assessment, which shows that the reading proficiency of college graduates has declined in the past decade, with no obvious explanation.... MORE
Economics of Health Care
Arnold Kling
Mark Thoma reports that Paul Krugman writes, the rise of medical technology ... makes ... medicine ... in which doctors call for every procedure that might be of medical benefit, increasingly expensive. This is the position that I arrived at... MORE
December 21, 2005
Institutional Economics
Arnold Kling
Now Bryan writes, statements like "To break a warlord equilibrium, you need government" only confuse us. I agree. I cannot think of any examples of societies that were stuck in a warlord equilibrium and then suddenly said, "Let's sit down... MORE
December 19, 2005
Growth: Causal Factors
Arnold Kling
In a new book, a team of World Bank economists writes, most of a country's wealth is captured by what we term intangible capital...Intangible assets include the skills and know-how embodied in the labor force. The category also includes social... MORE
December 18, 2005
Institutional Economics
Arnold Kling
In the latest issue of The Independent Review, Robert Higgs writes, in the late nineteenth century the so-called welfare state began to take shape. From that time forward, people were told that the government can and should protect them from... MORE
December 17, 2005
Labor Market
Arnold Kling
According to George Reisman, Paul Krugman is now accusing Wal-Mart of destroying jobs. Krugman notes that Walmart’s competition against other retailers also destroys the jobs its competitors had offered before being put out of business by its competition. He attempts... MORE
Social Security
Arnold Kling
Calculated Risk writes As a mental exercise, imagine if we eliminate SS spending and the SS payroll tax - what happens? The General Fund deficit stays exactly the same and we would need to address the significant General Fund shortfall.... MORE
Institutional Economics
Arnold Kling
Now Bryan writes, For example, the Soviet Union from 1956 on was clearly an institutional arrangement, run by many individuals with competing interests, which were resolved using rules that were viewed as more important than any one individual. Khrushchev was... MORE
December 16, 2005
Social Security
Arnold Kling
Calculated Risk writes, The debate should be focused on the two major issues: Health Care and the General Fund deficit. Without addressing those issues first, reforming Social Security is irrelevant. Even if one were to accept the premise that the... MORE
Institutional Economics
Arnold Kling
Bryan writes, I fail to see how getting a [government] counts as "breaking" a warlord equilibrium. Why shouldn't it simply be described as "accepting" a warlord equilibrium - you quit resisting the rule of the most powerful warlord, and let... MORE
December 15, 2005
Economics of Health Care
Arnold Kling
I write, What we are left with, then, is that people do not want real health insurance. I would gladly take a health insurance policy with a $10,000 deductible per individual, and I suspect that many of my wise, risk-averse... MORE
December 14, 2005
Here's an idea for an entrepeneur.... MORE
Social Security
Arnold Kling
Andrew Samwick writes The plan contains four primary elements: a gradual reduction in future benefits; an increase in the payroll tax cap; an increase in the retirement age; and the establishment of personal retirement accounts. The plan puts great emphasis... MORE
December 13, 2005
Information Goods, Intellectual Property
Arnold Kling
Tyler Cowen points to this essay suggesting that newspapers convert to nonprofit status. Over three years ago, I wrote The newspaper business is going to die within the next twenty years. Newspaper publishing will continue, but only as a philanthropic... MORE
Finance: stocks, options, etc.
Arnold Kling
In response to Jane Galt's post on personal finance, let me add a few words. 1. Living within your means is the key, and it can be done at a fairly low income level. You have to be willing to... MORE
Institutional Economics
Arnold Kling
Bryan writes, As economic growth progressed, of course, the market for defense services got bigger, making room for more and more firms. The problem, however, is that if you've got government in an area, it has the power and the... MORE
December 7, 2005
Public Choice Theory
Arnold Kling
Rushing in where angels fear to tread, I thought I would apply the theory of the Corruption Trap to Iraq. Bribing an official to get something done is like paying ransom to a kidnapper -- what looks like a good... MORE
December 5, 2005
Public Choice Theory
Arnold Kling
James Buchanan discusses three ideas for Constitutional amendments. He proposes an amendment to require balancing the Budget, and amendment forcing laws to be nondiscriminatory, and an amendment against regulating voluntary market transactions. On the nondiscrimination issue, he writes, The American... MORE
Books: Reviews and Suggested Readings
Arnold Kling
About Tim Harford's book, The Undercover Economist, I write, I am tempted to review it as if it were a textbook. Not because it resembles the freshman textbooks that are commonly used today, but because it resembles what I believe... MORE
December 2, 2005
Economics of Education
Arnold Kling
A Symposium in Reason Magazine: We asked a dozen experts what reforms they think are most necessary and promising to improve American education. We also asked them to identify the biggest obstacles to positive change. Some folks give predictable answers... MORE
December 1, 2005
Growth: Consequences
Arnold Kling
An Excerpt: ultimately, what the government can pay [in future Social Security benefits] depends on how the economy performs. If we continue to grow as we have in the neighborhood of 2 percent per annum per capita over the past... MORE
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