Voting Away Economic Reality

I don't pay much attention to political Facebook posts because commenting on them is too tedious, but I feel I need to address something I saw earlier. It was a post about increasing the minimum wage to $15, and that we only need the will to do so and everything will be fine. This denies reality. This supposes that there are no negative effect…

A Social Experiment

When I was a senior in high school, I worked at the movie theater at a nearby mall. As Christmas neared we had a special, advance private screening for the movie Hoffa which was released on Christmas Day, 1992. As a part of the screening the studio sent a bunch of replica buttons: "I'm a friend of Jimmy Hoffa" And by a bunch, I mean 4-500 or…

Things We Don’t Talk About

The stories were told, the experts were amplified, the bureaucrats were consulted, the politicians were obeyed, and what do we have? A virus that seems to behave roughly the same regardless of the human-led interventions designed to slow the spread, flatten the curve, skooch the goalpost, morph the narrative, erase previous understandings of viro…

We are all “The Economy”

For many years I've been impressed by how little people understand the economy. Most of the folks I've talked with in person and observed online have a narrow view of what defines "the economy", and they miss the importance of what they don't see. Let's start with definitions: Economy is, simply, efficiency. "The Economy", then, is the efficie…

Politics, Coercion, and the Dunning-Kruger Effect

If I win a popularity contest, does that make me an economist? A general? A doctor? Anything at all? Nope, it only makes me the winner of a popularity contest. Put aside the fact that the political system in the US is not at all free and open but rather controlled by parties that may occasionally slip up and let in someone of which they don't appr…

Drug Approval, Recalls, and Previous Pandemics

I figure I'd get this out now, since I have a feeling people don't understand. From drugwatch.com: "On average, about 4,500 drugs and devices are pulled from U.S. shelves each year. The recalled products have U.S. Food and Drug Administration (FDA) approval and in many cases, are widely ingested, injected or implanted before being recalled. …