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Going to Washington as a financial blogger

…official made some remarks about the state of financial institutions; later another said a few things about regulatory reform. The funniest moment was when, right after the spiel on regulatory…

Public Option Hardest Ball

Robert Waldmann The proposal made here in “Public Option Harder Ball” received enthusiastic support when it was coincidentally semi proposed as opt-in by Sen Carper (D-Bankruptcy Reform) and modified to…

Schizzo Welfare Economics

…economists. They don’t fit together. Long argument after the jump. If we accept principle 1) we ask if a proposed reform will achieve a Pareto improvement help some people while…

Health Care Hardball II

…regulatory reform (the less controversial and not budgetary part of the bill) alone would be terrible policy. Then I thought that is the very best feature of splitting the bill….

"Encouraging Veterans to Commit Suicide"

…Steel declares healthcare reform would result in the same bad public policy as shown in a 1997 VA manual encouraging veterans to commit suicide. The manual which encouraged veterans to…

Money Metric Welfare and "Economic Efficiency"

…of cash such that the individual is indifferent between the reform (moving to state B) and receiving EV_i in cash. The is the money metric benefit of the reform. Obviously…

BW on Soc Sec VI: LMS and the Infinite Future

LMS: the Liebman-MacGuineas-Samwick Non-Partisan Social Security Reform Plan. Above we see Tables 1 & 2 of LMS. Its authors are interesting for a couple of reasons. One they are connected…