Archive for the ‘conservatives’ Category

One of the Reasons Supply-Side Economics Does Not Make Sense To Me

November 3, 2009

In his column in the Sunday NYTimes, former GW Bush economic advisor and current Harvard Economics Professor, N. Greg Mankiw argues against the Health Care bill because of the way that the insurance subsidies are structured.  He contends that it would discourage workers from working to their full potential.



In Defense of Bankers’ Bonuses and Union Contracts

June 30, 2009

Over the past year, two groups have been unfairly scapegoated for our country’s economic problems:  (1) bankers and (2) unions.  In particular, many people have blamed the incentives embedded in bankers’ compensation scheme for the near bankruptcy of the entire industry.  Many people also blame unions for the down fall of the auto companies.  But I believe both positions are misguided at best and flat out wrong at worst.



May 14, 2009

Since President Obama proposed his stimulus, conservatives have been shrieking at the top of their lungs that President Obama is seeking to ration health care. There primary piece of evidence is inclusion of funding ($700mm) for what is known as Comparative Effectiveness Research (“CER”). What CER seeks to do is study the costs and benefits of certain medical treatments, procedures or drugs. For example, it would study whether physical therapy is more effective than shoulder surgery for healing an ailing shoulder. What people like Betsy McCaughey, author of the Bloomberg Op-Ed cited above, argue is that this is will lead to the Government deciding which treatments your doctor will be able to prescribe, and not you and your doctor. For example, if the Government believes that therapy is more cost effective for a certain amount of benefits as compared to surgery, you will not be able to choose surgery. In the end, according to Ms. McCaughey, the Government will simply ration health care as it sees fit. As will come as no surprise, I find many problems with the position advocated by these conservatives.