Archive for the ‘Economics’ Category

Real Hope and Change From…Where? New Jersey?

Wednesday, March 3rd, 2010

Am I getting this right?
Kevin Baker at the Smallest Minority points to this amazing video of the new Governor of New Jersey, Chris Christie, lecturing 200 mayors on what he’s going to do to insure that he’s a one term governor: mostly whack state spending, with an axe, to get out of the way of private business.
[Original link is generic, and will probably go away after the next episode airs. I'm hoping this embed will stay up.]

It’s twenty five minutes of inspiration. If Christie can make it work in Joisy, without ending up dead in a dumpster somewhere, it can work anywhere.

Obamaoids, watch out. Christie’s just another scout. There’s more like him, and worse, moving through the forest, ready to ambush you on your road to Commieville.

[Link note: Updated the link to what appears to be a permant archive. The embed is not currently working. 2010/03/08]

[Update: Killed the autostart. Sorry about that.]

Triage at The Gray Floozy

Sunday, October 25th, 2009

Sheri Fink at The New York Times on “Choosing Who Survives in a Flu Epidemic“:

New York state health officials recently laid out this wrenching scenario for a small group of medical professionals from New York-Presbyterian Hospital:

A 32-year-old man with cystic fibrosis is rushed to the hospital with appendicitis in the midst of a worsening pandemic caused by the H1N1 flu virus, which has mutated into a more deadly form. The man is awaiting a lung transplant and brought with him the mechanical ventilator that helps him breathe.

New York’s governor has declared a state of emergency and hospitals are following the state’s pandemic ventilator allocation plan — actual guidelines drafted in 2007 that are now being revisited. The plan aims to direct ventilators to those with the best chances of survival in a severe, 1918-like flu pandemic where tens of thousands develop life-threatening pneumonia.

Because the man’s end-stage lung disease caused by his cystic fibrosis is among a list of medical conditions associated with high mortality, the guidelines would bar the man from using a ventilator in a hospital, even though he is, unlike many with his illness, stable, in good condition, and not close to death. If the hospital admits him, the guidelines call for the machine that keeps him alive to be given to someone else.

Would doctors and nurses follow such rules? Should they?

[Bold mine.]

Something’s being slipped in here that the Times seems not to notice: The scenario apparently posits confiscating the patient’s own ventilator, his personal property, for public use.

I’m just going to say right now that such confiscation ought rightly be utterly abhorrent, that the possibility ought not even be in training scenarios except as an absolutely not! example. And yet the Times slips it in without comment, as if to say, “Well, of course that’s a reasonable option.”

No, ma’am, no it’s not.


This article, and the scenarios it discusses, also fail to take into account a principle John Ringo makes much of in his novel about a catastrophic epidemic, The Last Centurion:
Emergency plans always leave out the emergency.

We are given the impression that these decisions will be made in the context of an unusually busy Saturday night in the ER, that people will be sitting around a conference table, or at least clustered around the nurses’ station, coffee cups in hand, spending a few moments discussing the file of each patient coming up for review….

No.

If things have gotten to the point justifying the imposition of real triage rules, much less the confiscation of private property, here’s what’s going on:

The vaccine distribution plan has already failed. For whatever reasons, and government stupidity is likely to be a dominant factor, the vaccine did not protect enough people to contain the disease.

Half the hospital staff is either dead or dying, bunkered down with their families, or have fled the city. The remaining staff have not slept more than two hours in the last forty-eight. The Benzedrine ran out two hours ago.

There is a riot brewing outside the hospital among people demanding treatment.

The cops, if any, are occasionally firing on rioters who press the doors too closely.

Ventilator Guy’s appendix has already burst because he could not get to the hospital, and his ventilator is inflating the lungs of a dead man — if there is even power to run it.

Remaining staff is deciding, moment to moment and essentially on personal whim, who gets saline and bandages, because those are the only resources the hospital has left to allocate. The pharmacy was ransacked yesterday.

You want natural childbirth? You think anything else is even on offer? Women are pushing babies out while lying on the floor, attended by their husbands or other new moms. Or alone, in alleys, as nature intended.

Meanwhile, the flickering TV monitor in the ER waiting room shows a grim but calm President reassuring his people that everything is under control, and if people will simply follow CDC guidelines….

Whip of the Day: Yelling at Obama

Friday, October 23rd, 2009

Mike at Cold Fury:

I’m…beginning to think that yelling at Obama for failing to protect America is like yelling at a six-year old for failing to make a dentist appointment, open a 401k and install vinyl siding on the house.

This, at the end of a post answering an often heard argument that this law or that is Constitutionally justified by the “General Welfare” clause of the Pre-Amble:

Every law ever written was aimed at someone’s idea of “the general Welfare”. Justice Taney thought he was promoting the general welfare when he returned Dred Scot to his owner.

Go read the whole thing, it’s short and worthy.

The Geography of Job Loss

Wednesday, October 14th, 2009

Interactive map showing job loss over time, 2004 to July 2009.

Green circles are net increases, red circles are losses.

Mouse-hover over a circle to identify the Metropolitan Statistical Area being represented.

Two milestones:
September 2005, Hurricane Katrina
The big red blotch over New Orleans disappears quite suddenly a year later. I suspect this is due to the way the data is processed, and the fact that the map shows changes rather than absolute numbers. The NO economy simply shrank, and stabilized.

Also note that Detroit, MI starts throbbing in a minor way at about this time. Unlike NO, Detroit never stabilizes. A small rash springs up around it, with outbreaks in western Florida and southern California.

January 2008, Election year
Somewhere about here the minor rash spreads and grows, and the national balance tips from green to red.

A year later, right after the election, unemployment just explodes.

General observations:

Somehow, Detroit is a bellwether.

Although Bush’s second term starts out pretty spotty, by mid-2004,it’s overwhelmingly green. He held things together right up to the end.

I can’t help but notice that the hardest hit areas are Democratic strongholds. Of course, it’s impossible, based on just this map, to untangle cause and effect.

Via Tigerhawk.

===

Chart-junk warning:

Representing a linear quantity by an area undermines the graphical integrity of the chart . The key suggests that job-change is represented by the radius of the circles, but visually, the circles grow by the square of the radius. Also, the circles cover actual geographical areas, including rural areas outside the MSAs, and while it’s a good guess that the suburb and farm economies rise and fall with the cities that anchor them, it’s not guaranteed.

[update: clarify timing of Bush's second term.]

Defining the Terms of Debate

Tuesday, October 13th, 2009

One of the things that’s become all too clear to me over the last year or so is that when you talk about politics, you are almost always using words and phrases defined by folks like Marx and Stalin.

From Rand Sindberg at Transterrestrial Musings:

I wish that we could come up with some other word for free market systems, though — “capitalism” is intrinsically a Marxist concept.

His commenters have some good suggestions.

Oh, and Sindberg is pointing to this interesting read over at World Affairs.

Free Market Pencil

Monday, October 12th, 2009

Milton Friedman explains where pencils come from, and, oh golly, it’s not by the benevolence and ingenuity of government bureaucrats.

This is apparently something of an old warhorse, and I’m ashamed I haven’t run across it before.

Exercise for the student: his first line is, “Look at this lead pencil. There is not a single person in the world who can make this pencil.” From that, extrapolate the rest of his comment.

Via the New Paltz Review’s pointer to Adam Fleisher’s City Journal review of Alan Beattie’s False Economy: A Surprising Economic History of the World.

That review also highlights Fleisher’s example of Egyptian Wheat:

When trade is free, says Beattie, mutually beneficial exchanges can “take resources from places of plenty to places of scarcity.” His best example concerns Egypt and grain. Today, the country imports about half of its wheat, while in ancient times it served as the breadbasket of Greek and Roman civilizations. Back then, the infrastructure of global trade of course did not exist. But now, because the market for grain is not geographically limited, it makes no sense for relatively arid Egypt to grow so much of a crop that requires substantial amounts of water. So, writes Beattie, what Egypt is really doing is “importing millions of tons of the water” used to grow wheat.

Of course, this passage will whap any SF fan right between the eyes by reminding us of Robert Heinlein’s retelling of the American Revolution, The Moon Is a Harsh Mistress. [My copy appears to be in storage, so excuse the summary from memory.]

Earth’s moon colonies, which started as penal colonies ala Australia, are essentially slave plantations used to grow wheat for Earth. A revolutionary agitator explains that this is destroying the lunar economy: The water is mined as lunar ice, used for industry, for drinking, and for toilets. Toilet waste is then used to water and fertilize the hydroponic fields. The water, and the fertilizer, is then shipped to Earth as wheat. The water and the fertilizer represent irreplaceable resources for the moon, but are in plentiful supply on Earth. This downhill bloodletting is what triggers the revolution.

Speaking of Milton Friedman, here’s another linchpin video clip, on the power of “Greed” to generate freedom, from an interview with Phil Donahue:

Again, this is something of a chestnut, but at least I’ve seen it before. Still, one of those things everybody should be exposed to, if only so they can argue against it.

Quote of the Day: Why Health Care Is Not a Right

Friday, October 9th, 2009

Dr. Pat Santy threatens to quit:

Let me be clear. I don’t believe that people have a “right” to health care; because, what advocating such a “right” basically means is that you believe you have a “right” to my mind; you have a “right” to my professional competence; i.e., you have a “right” to enslave me.

[Emphasis in original.] Yeah, read the whole thing. It’s short.

Unlike this, which is where I got the above quote and which is what I really wanted to point at. Kevin Baker over at the Smallest Minority does an Überpost on what is and is not a right, centering on health care. Absolutely wade in and keep going. Chock full of nutritious linkiness.

Including this from Marko the Munchkin Wrangler:

A human right only requires that people leave you alone to exercise it, not that they work for you, whether you give them money for their work or not. Freedom of speech is a human right. Freedom of association is a human right. Free exercise of religion is a human right. Free band-aids and vaccinations aren’t.

Aside from health care, Kevin also mentions:

Police protection isn’t a right. The courts say so. Fire protection isn’t a right. Education isn’t a right either, but I will agree that the majority certainly believes that it is.

“The courts say so.” Exactly. If police protection were a right, the police would be liable every time a crime was committed, and as every Jurisdiction in the land has declared, from the podunkiest little whistlestop to the Supremes they-own-black-robed selves, the cops are never around when you need one, because they can’t be. You do, however, have the right to arm your self, for self-protection. Although, oddly, the courts are only just now beginning to examine what is so plainly and clearly stated in the U.S. Constitution, as well as most state constitutions. Many jurisdictions have simultaneously declared that the police have no obligation to protect you, but you are forbidden to protect yourself and must rely on the police. Huh. How about that. Kinda makes you wonder what side they’re on, doesn’t it?

“We Are As Gods, And Have To Get Good At It.”

Friday, October 2nd, 2009

Stewart Brand proclaims “Environmental Heresies“, over at TED.

There are TED presentations that make you gasp with awe and wonder. The audience laughs and claps throughout, simply because the charts and graphs are so enlightening.

This is not one of them. It is cold, dry, and sobering. The audience is silent. I’m not going to try to summarize, you really need to see the whole thing.

I don’t agree with everything here — Brand believes in AGW, for instance, and is reflexively socialist — but overwhelmingly, the message is good, and Brand presses the need for local, even personal control and power. (Brand understands very well the difference between the two.) As I say, his socialism is reflexive, but the message is inherently capitalist.

The amazing thing is, he sees so clearly that even though his politics color his presentation, he still tells the truth.

Health v. Health Care

Monday, August 31st, 2009

I’m in an agony of haste, but I need to get this link at The Atlantic up: “How American Health Care Killed My Father.” It’s an excellent examination of how insurance and government regulation has horribly distorted the market for health care.

I’ve only gotten about a third of the way through — it’s long — but it’s shaping up very nicely.

Here’s the central question: what do you think would happen if you spent all your grocery money on grocery insurance? If, in other words, you tried to use a market mechanism suited for rare, catastrophic occurrences to obtain an ongoing necessity?

What if your insurance clerk had to approve that pound of bacon? The brand of bacon you could buy? The maximum price you could pay?

What if your plan only covered Bacon Bits? Or Beggin’ Strips?

What if handling the bacon required a twenty minute sterilization procedure, but there was garbage in the aisles of the produce section?

Welcome to American healthcare.

More later, I hope.

I’m leaving on a contracting job, and the extent and circumstances of the thing is not clear (that’s part of the job — figure out how big it is). It may be a few days before I can check in again.

[Edited for grammar.]

Illegal Aliens: Covered or Not

Saturday, August 29th, 2009

Gosh, kinda hard to tell, but on balance: Yeah, probably, although they can’t get it at the lowest possible rate. From Big Hollywood:

…Obama debunked “disinformation” alleging that illegal aliens would be eligible for the proposed plan. “That’s not true,” he objected, “There’s a specific provision in the bill that does not provide health insurance for those individuals.”

Let’s take a look at the text, shall we? The provision he cited is located on page 143 and reads as follows:

SEC. 246. NO FEDERAL PAYMENT FOR UNDOCUMENTED ALIENS

Wow. Can’t get much clearer than that! It looks like the Big O is right: Undocumented aliens are excluded from collecting benefits under the plan

But… hey, wait a cotton-pickin’ minute!

On page 50, SEC. 152 explicitly prohibits discrimination under the act with “regard to personal characteristics extraneous to the provision of high quality health care or related services.”

In other words, undocumented aliens are not only eligible for ObamaCare, but their coverage is mandated.

So what’s up, Big O? Quit jacking us around! Are they covered or not?

A further reading of Section 246 reveals that the plan only disallows “Federal payments for affordability credits on behalf of individuals who are not lawfully present in the United States.”

“Affordability credits” are federal subsidies that offset the cost of monthly health plan premiums for low income earners.

So, in short, undocumented aliens are eligible for the plan under Section 152, but ineligible for premium subsidies.

I just love how the titles of laws and sections often contradict the actual content of same.

And I love how one section taketh away, but another section giveth.

The sharpest point here is about more than health care: in a bill of this size, you can’t understand the effect of a given provision until you have read and understood the way it interacts with every other provision. You can’t just do a keyword search, particularly just on titles, and have any expectation of understanding what the hell is going on.

And that doesn’t even begin to talk to about regulations that aren’t included in the bill itself, but will be written in response to the bill by the affected agencies, or worse, by agencies that will be created by the bill. Or amendments to the bill the night before the before the vote. Or the way the bill amends existing laws by reference, with no way to understand the effect without reading the text of said law. (Man, I wonder if it’s ever happened that some policy now being enforced is really null and void because Law A was amended by Law B, but then Law A was changed by Law C so that Law B now points at language that no longer exists?)

The most important question at town meetings should be, “Can you prove your last answer by citing the bill? …Really? Are you absolutely positive that’s all the bill says about that? Is there anything in the bill that explicitly prohibits [Agency In Question] from enforcing regulations to that effect?”