Debt. You don’t like it. I don’t like it. No one likes it. And yet, without it, much of the prosperity and technological progress we rely upon would not be possible. Finance and the power of compound interest has thrust our economy forward faster than any in history. Yet, compound interest is not a tool […]
“Unconstitutional,” says the 11th Circuit.
August 12, 2011 by
“Unconstitutional” The news making its way through the legal blogosphere, and the online news outlets, is that the 11th Circuit has ruled the individual mandate part of the Patient Protection and Affordable Care Act (the “Act”) is unconstitutional. Let me underscore that: only the individual mandate was found unconstitutional. The rest of the law has […]
Negative externalities add up.
August 1, 2011 by
No one faces the choice, “Drive a lot less, or get lung cancer,” or “Rethink your economic views, or spiral down to poverty.” In both driving and democracy, negative externalities irrelevant to individual behavior add up to a large collective misfortune.
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