Digital Cabinet

Polevaulter Donkeyman's rants, raves musings and flame wars

Posts Tagged ‘Economics

An Economic Case Against Immigration? Durka Dur

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Came across this article in @TRISH00L’s twitter feed

The author, Jaideep Prabhu (who also tweets as @orsoraggiante lays out an economic case against immigration to India of unskilled labour in response to an article by Nitin Pai in the Business Standard

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What’s wrong with Truck Nutz?

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  1. How does one define abundant in “Everybody’s work rewards them abundantly”?
  2. If one defines “abundant” as the amount that allows one “to live in comfort and provide for their family” then how does one define “comfort”?
    • An abode big enough such that each kid has their own room?
    • An income big enough that allows each kid to have their own gaming console?
    • An income big enough that guarantees vacations anywhere one wishes to take them?
    • An income big enough that one can afford to eat out n times a week?
    • An income big enough that allows one to buy the latest technology whenever one wants?
  3. Should a person have a right to more than the value added by his or her labour?
  4. All goals sound worthwhile
    • From each according to his ability, to each according to his work[1]
    • Work will make you free[2]
    • Zhi sheng yige haizi hao : It is good to have just one child[3]
  5. But difficult question is how (or even whether) to achieve (or strive for) that goal[4][5][6]
    • If one carefully reads the strip nowhere in the strip does the top-hatted person specify how one is to work towards making the goal of “abundant income” a reality
  6. What’s wrong with Truck Nutz?
    • Presumably people buy them because they get some benefit out of them, in this case a laugh (or a smile).
    • Is making people laugh and/or smile a less than worthy endeavour?
    • If the person on the right had invented the Zipper[7] or the Safety Razor[8] or the Tampon[9] or the Heart Lung Machine[10] or the Pill[11]would his argument be worth taking more seriously?
    • As Deirdre McCloskey pointed out

Give a woman some rice, and you save her for a day. That’s the simplest form of what Christians flatter themselves by calling “Christian charity.” Give a man some seed and you save him for a year. That’s the plan of investment in capital, tried for decades in foreign aid, without much success. But give a man and a woman the liberty to innovate, and persuade them to admire enterprise and to cultivate the bourgeois virtues, and you save them both for a long life of wide scope, and for successively wider lives for their children and their grandchildren, too. That’s the Bourgeois Deal, which paid off in the Age of Innovation.[12]

 
Lest one misunderstands I am, otherwise, a fan of Wondermark.

 

Footnotes

[1] 1936 Constitution of the USSR Art. 12

[2] List of Political Slogans

[3] Chinese Political Slogans

[4] Mass killings under Communist regimes

[5] Arbeit macht frei

[6] One-child policy

[7] Whitcomb L. Judson

[8] King C. Gillette

[9] Earle Haas

[10] John Heysham Gibbon

[11] Gregory Pincus and Min Chueh Chang

[12] McCloskey, D. N., Bourgeois Dignity, University Of Chicago Press, November 30, 2010.

Written by Polevaulter Donkeyman

July 9, 2012 at 16:22

Spot the Difference

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  1. In 2012:
  2. In 1990:
  3. Context:

    Helms ran for reelection in a nationally publicized and rancorous campaign against the former mayor of Charlotte, Harvey Gantt, in his “bid to become the nation’s only black Senator” and “the first black elected to the Senate from the South since Reconstruction”. In the primary, Helms had two opponents, George Wimbish (as in 1984) and another; Helms won with 84.3% of the vote.

    Helms aired a late-running television commercial that showed a white man’s hands ripping up a rejection notice from a company that gave the job to a “less qualified minority”; some critics claimed the ad utilized subliminal racist themes. The advertisement was produced by Alex Castellanos, whom Helms would employ until his company was dropped in April 1996 after running an unusually hard-hitting ad.

  4. Answer:

    The Indians and Chinese are not asking for any special treatment. They are only asking to be treated equally (This is not to say that affirmative action is all bad; after all, blacks were treated horrendously in the past).

    Why does President Obama not think of Indians and Chinese as worthy of equal treatment?

  5. Take it away Prof. Landsburg

Written by Polevaulter Donkeyman

June 28, 2012 at 00:18

Jon Stewart is such a shill

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On the February 13, 2012 episode of the Daily Show, Jon Stewart cuts to Obama pretending to back down on his mandate that workplaces affiliated with religious bodies (e.g. affiliated to the Catholic Church) need to pay for contraception in the health plans they offer to their employees (around the 5’20” mark) — .

If a woman’s employer is a charity or a hospital that has a religious objection to providing contraceptive services as a part of their health plan, the insurance company, not the hospital, not the charity, will be required to reach out and offer the woman contraceptive care free of charge. Religious organizations won’t have to pay for these services and no religious institution will have to provide these services directly.

http://www.whitehouse.gov/the-press-office/2012/02/10/remarks-president-preventive-care
— Barack Obama

Thankfully, Steve Landsburg and Greg Mankiw come to the rescue .

That’s because all economists understands that transferring the responsibility from employers to insurers amounts to transferring the cost from insurance buyers to insurance buyers, which is to say that it’s not a change in policy. One of the first and most important lessons we teach our students is well summarized by a slogan: “The economic burden of a tax is independent of the legal burden”. Ditto for a mandated insurance purchase. It is not the law, but the underlying price-sensitivities of buyers and sellers, that determines where the burden ultimately falls.

For Stewart’s sake I hope Obama loses.

Written by Polevaulter Donkeyman

February 15, 2012 at 01:51