Archive for the 'Politics' Category

Harris’s 1922 Paths to Victory

Here’s what I want on election night: A complete list of all Harris’s paths to victory and a complete list of all Trump’s paths. Then as each path becomes impossible, I can cross it off and see possibilities narrowing down.

First Pass

Of course the meaning of “all Harris’s paths to victory” depends on your background assumptions. For starters, I assumed that the seven oft-cited “battleground states” (PA, GA, NC, MI, WI, AZ, NV) are up for grabs and that all other states (and districts) will fall as expected, where “as expected” means “to the candidate who is currently ahead in the RealClearPolitics polling average”. This leaves 20 paths to victory for Harris and 21 for Trump, as shown:

   

Here’s exactly what this means: If Harris wins any one of her 20 combinations, she wins the race. If she fails to win any of them, she loses.

So for example, if Trump wins Pennsylvania early, I can cross off Harris’s top 10 rows, leaving her 10 paths to victory. If she loses Georgia, I cross off another 7 and she’s down to 3 paths.

Incidentally, there are also three paths to a tie, as indicated here:

Second Pass

Of course you might not believe that only seven states are up for grabs. So for my second pass, I assumed that seventeen “states” are up for grabs. These are the states that appear, from the RealClearPolitics averages, to be at least barely contestable. They are TX, FL, PA, OH, GA, NC, MI, VA, AZ, WI, MN, NV, NM, NH, ME, NB-2, and ME-2. (The latter two are actually congressional districts, not states.)

Now (unless I’ve made a mistake somewhere) Harris has 1922 paths to victory. Rather than post a 1922 line chart, here is a link to a 37-page pdf document. I plan to have this in front of me on election night.

Print Friendly, PDF & Email
Share

Degrees of Delusion

No matter how this election turns out, the next president of the United States will be a crackpot.

Donald Trump thinks you can fight Covid with bleach injections. Kamala Harris thinks you can fight inflation with price controls.

No, let me correct that. What Trump actually said was that it would be “interesting to check” on whether you could fight Covid with bleach injections. What Harris actually said was that you can fight inflation with price controls.

On that basis, I’d have to conclude that Harris is the more delusional of the two. Unfortunately, Trump has offered me plenty of additional evidence that he’s right up there in Harris’s league. But she’s made it pretty clear he’ll never actually surpass her.

Click here to comment or read others’ comments.

Print Friendly, PDF & Email
Share

The Next Trump Cabinet

Here is a headline from this morning’s New York Times:

Over the course of the day, I’ve heard three different radio commenters riffing on this theme, mocking the former president for not realizing that presidents don’t control monetary policy.

The mockers are wrong. They’re even obviously wrong. If interest rates are determined by monetary policy and nothing else, then what determines interest rates in an economy without money, where people still borrow and lend?

Interest rates are largely determined by the difference between prosperity now and expected prosperity in the future. If everyone expects to be a lot richer in ten years, they’ll try to borrow more now and drive interest rates up. If everyone expects to be a lot poorer in ten years, they’ll try to save more now and drive interest rates down. And pretty much everything a president does affects both current and future prosperity, so pretty much everything a president does affects interest rates.

Trump’s promise to bring down interest rates is an implicit promise to adopt policies that either a) make us more prosperous today, but only temporarily and/or b) make us less prosperous in the future. In other words, he’s promising to adopt policies that many of us would describe as short-sighted. The New York Times notwithstanding, he’s perfectly capable of fulfilling that promise. He can, for example, appoint a lot of short-sighted people to influential policy positions.

And we know who some of those people are! The New York Times and the radio commentators completely missed the boat on this one. They thought Trump was promising the impossible, but failed to realize that there’s nothing impossible about filling the Cabinet with childless cat ladies.

Click here to comment or read others’ comments.

Print Friendly, PDF & Email
Share

The Next Democratic President

The Democrats keep telling us that Donald Trump poses a unique threat to democracy and global stability, so that even if you are disagree with almost all of their policies, you should still vote for the Democratic nominee to keep Trump out of the White House.

I agree with them. I was prepared to vote for Biden. I will vote for Harris. I will do this despite the fact that Biden and Harris represent ideologies I find appalling and support policies that I believe will leave the world a considerably worse place. There are in fact a few Democrats I think are even more dangerous than Trump (I’m looking at you, Elizabeth Warren) but none of them seems to be in the running.

But although they’ve convinced me, I doubt that the Democrats have actually convinced themselves. Because if they have — if they really believe that Trump is such a unique threat that we have to put most of our disagreements about policy aside in order to stop him — they wouldn’t be nominating Harris, or any other Democrat. Instead, they’d be drafting Liz Cheney. (I might have said Nikki Haley, but I think that ship sailed when she addressed the Republican convention.)

Yes, the average Democrat would have to swallow very hard to support Cheney, just as I’ll have to swallow very hard to support Harris. The difference is that Cheney’s probably got a better chance of beating Trump. In a Cheney/Trump race, I’d wager that about 100% of Democrats and 25% of Republicans choose Cheney. That’s a landslide.

You might argue that it would be hard to get the Democratic base out to the polls for Cheney. But after a few months of hammering home the message that the imperative is to stop Trump, I don’t think you’d have more trouble selling Cheney to Democrats than you’d have selling Harris to me — and I am already sold.

I rarely agree with Democrats on political matters. This time around, we’re all on the same side. Let’s do what it takes to win. I will do my part by putting a whole lot of disagreements aside and voting for Harris if I have to. The Democratic National Committee can do its part by also putting a whole lot of disagreements aside and nominating someone with a far better chance of success. The only difference between me and the DNC is nobody cares what I do, but the DNC can make a difference, and maybe save the world. If they mean the things they say, that’s what they’ll do.

Click here to comment or read others’ comments.

Print Friendly, PDF & Email
Share

Game Theory

Recognizing that I know no more about politics than most of you, and that I have no notable record as a political prognosticator, here is my prediction, as of about a half hour before the second Republican presidential debate: Doug Burgum breaks out of the pack with strong attacks on Donald Trump.

Why? First, he needs a Hail Mary. Second, he needs it tonight, or there’s almost no chance he makes it into the third debate. Third, among the various Hail Mary’s available to him, this seems the most likely to pay off.

Arguably, they all need Hail Mary’s. But those (i.e. most of them) who have refused to substantially attack Trump in the past can’t use this particular Hail Mary without being called out for flip-flopping. (Burgum doesn’t have to worry so much about this, because almost nobody has paid any attention to anything he’s said yet.) Also, Burgum is the one who most needs to get this done tonight, with little prospect of going on otherwise.

A couple of hours from now, you can tell me why I got this wrong.

Click here to comment or read others’ comments.

Print Friendly, PDF & Email
Share

A Chance to Do Some Good

I know very little about Asa Hutchinson (ex-governor or Arkansas, current candidate for president) but I’ve heard him on the radio a few times and he seems worth listening to. I’ve heard him speak sensibly about markets, about Putin, and about Trump.

I’d very much like to see him on next week’s debate stage. To qualify, he needs 40,000 donors total, of which I believe he currently has about 30,000.

(You’d think that speaking sensibly on a few topics is a pretty low bar to clear, but there will be people on that stage who haven’t cleared it.)

A $1 donation counts exactly as much as a $1,000,000 donation toward this goal. Please consider making a $1 contribution (or more) here:


https://secure.winred.com/asa-for-america-inc/donate

Print Friendly, PDF & Email
Share

I Heard the News Today, Oh Boy.

I’m getting a little tired of presidents of the United States repeating things that could only be spoken by an idiot or a liar, and then trying to intimidate people out of contradicting them.

The latest (though of course not the most egregious) offender is one Joseph R. Biden, who told the country today that he can raise corporate income taxes without imposing any additional tax burden on anyone who earns less than $400,000 a year. Because in the United States of America, nobody with an income under $400,000 owns any stocks or mutual funds. And if you disagree, he’ll stare you in the face and repeat himself. Like I said, this is getting old.

Click here to comment or read others’ comments.

Print Friendly, PDF & Email
Share

Good thing we dodged that bullet

In the days following the 2020 presidential election, fears ran rampant that Donald Trump, having lost the election, would try to do something truly crazy like launch a missle strike or deploy troops to prevent an orderly transition. But among the grownups at the Pentagon, there was one even bigger fear:

For the Joint Chiefs, the biggest worry was the revival of one of Trump’s hobbyhorses: pulling troops out of Afghanistan, what he had called the “loser” war. A long line of advisers—Mattis, McMaster, Kelly, Mike Pompeo, and former secretary of state Rex Tillerson among them—had repeatedly discouraged this idea from the first time Trump brought it up in 2017. American intelligence units in the region needed military support to keep up their work. The United States had hundreds of millions of dollars’ worth of equipment and vehicles on the ground that would have to be methodically removed, or else they could be confiscated by the Taliban and make enemy forces that much better equipped to terrorize civilians and attack the Afghan government. Even if Trump decided to dramatically reduce forces in the region, his generals and top advisers warned him that pulling out of Afghanistan wasn’t as simple as putting a bunch of soldiers on a bus and heading out. Withdrawal had to be executed carefully and in stages, protecting each flank and helping the Afghan government remain stable.

Pentagon leaders worried about a Saigon situation, with a chaotic last-minute exit and desperate people rushing to a rooftop to catch the last helicopter out. The Joint Chiefs began preparing for the possibility. If the president ordered a military action they considered a disaster in the making, Milley would insist on speaking to the president before passing on the order, so he could advise against it. Under this plan, if the president rejected Milley’s counsel, the chairman would resign to signal his objections. Then, with Milley out of the picture, the Joint Chiefs could demand in turn to give the president their military advice. This would buy time. In informal conversations, they discussed what would happen if they, too, got the brush-off from Trump. They considered falling on their swords, one by one, like a set of dominos. They concluded they might rather serially resign than execute the order. It was a kind of Saturday Night Massacre in reverse, an informal blockade they would keep in their back pockets if it ever came to that.

— Carol Leonnig and Philip Rucker
I Alone Can Fix It: Donald J. Trump’s Catastrophic Final Year

Click here to comment or read others’ comments.

Print Friendly, PDF & Email
Share

But This Was Always Obvious to Everyone, Right?

trumpOver four years ago, I published my answers to some frequently asked questions about Donald Trump. Here is some of what I said then:

Is Donald Trump batshit crazy? Obviously yes. He seethes with personal resentments, all of which loom larger in his mind than, well, anything, and appears genuinely incapable of fathoming the possibility that there are people who don’t particularly care whether someone high or low has been “unfair” to Donald J. Trump. He claims to believe that Hillary Clinton’s policies would be disastrous for the country, yet works to undermine the Republican congressional and Senate candidates who stand as a bulwark against those policies, because preventing a national disaster is less important than petty vengeance against those who have failed to pay Trump his due respects. Moreover, he seems genuinely baffled by the suggestion that anybody anywhere might prioritize things differently. He has, as I’ve said before on this blog (and as countless others have said, sometimes more poetically) the mental, emotional and moral maturity of a four-year-old, with an attention span to match.

Is being batshit crazy a disqualification for the position of Commander in Chief of the armed forces of the United States of America? Hell yes.

Summary: I do not know and I do not much care whether Donald Trump is a racist or a serial groper, except insofar as I wish nobody were a racist or a serial groper. When I’m deciding who to support for President, I care about things that will affect his or her performance in office. In Trump’s caase, I believe the xenophobia is a sufficient disqualification, though I think one could reasonably argue that, given the shortcomings of the alternatives, we should not be so quick to disqualify. But I do not think that one could reasonably say the same about the paranoia, narcissism, and all the related mental instability. The next time Trump goes off on an incoherent rant — and he will — try imagining him in command of the United States Army. Take that image into the voting booth.

I’m not always right, but I’m not always wrong either.

Click here to comment or read others’ comments.

Print Friendly, PDF & Email
Share

History Lesson

Alabama Senator-elect Tommy Tuberville is quoted as saying:

I tell people, my dad fought 76 years ago in Europe to free Europe of socialism. Today, you look at this election, we have half this country that made some kind of movement, now they not believe in it 100 percent, but they made some kind of movement toward socialism. So we’re fighting it right here on our own soil.

Over at MSNBC, Steve Benen responds:

It’s true that Tuberville’s father fought in France during World War II, but if the senator-elect thinks the war was about “freeing Europe of socialism”, he probably ought to read a book or two about the conflict.

Apparently, reading a book or two about World War II is not a prerequisite for writing commentary at MSNBC. I wonder which of the following points Mr. Benen has overlooked:

  • Our primary opponents in the European conflict were known as “the Nazis”.
  • Naziism is/was a dialect of socialism.

I’d elaborate, but I’ll keep this short just in case Mr. Benen drops by this blog. Apparently he doesn’t like to read very much.

Click here to comment or read others’ comments.

Print Friendly, PDF & Email
Share

Want a Coup? Abolish the Electoral College

If you’re worried about the president subverting the electoral process, you might pause to give thanks for the electoral college. If the election were conducted by a federal authority, or if any single authority were responsible for aggregating all the votes from around the country, it’s a fair bet that either this president or some future president would be exploring ways to intimidate that authority.

How is it that so many of the very same people who express grave concern about a president clinging to power by manipulating or ignoring vote totals are so quick to disdain the institution that makes it essentially impossible for him to do exactly that?

It’s always dangerous to centralize power. It’s doubly dangerous to centralize the power to decide who wields power.

More thoughts on this can be found in my piece in today’s Wall Street Journal.

Click here to comment or read others’ comments.

Print Friendly, PDF & Email
Share

Teaser

Here are the opening paragraphs of my (paywalled) op-ed in today’s Wall Street Journal.

For nearly four years, I’ve looked forward to voting against Donald Trump. But Joe Biden keeps testing my resolve.

It isn’t only that I think Mr. Biden is frequently wrong. It’s that he tends to be wrong in ways that suggest he never cared about being right. He makes no attempt to defend many of his policies with logic or evidence, and he deals with objections by ignoring or misrepresenting them. You can say the same about President Trump, but I’d hoped for better.

Click here to comment or read others’ comments.

Print Friendly, PDF & Email
Share

The Continuing Tragedy

The great tragedy of the Trump administration has been that the President’s obvious mental incapacity has tended to discredit, in the minds of the public, even the good policies that he (apparently randomly) chooses to endorse. As a result, many good policies will never get the consideration they’re due.

For example: Trump happens to be right that we can design a system a whole lot better than Obamacare. But he’s never explained why, and he’s never even attempted to sketch out what such a system might look like. This (appropriately, and probably accurately) makes him appear to be an idiot, and therefore (inappropriately) leads the public to dismiss meaningful health care reform as an idiotic policy.

Likewise: Trump happens to be right that lockdowns and other mandates have enormous costs, which need to be weighed against the benefits of fighting a pandemic. But instead of focusing on that important point, he’s garbled it all up with the ridiculous notion that you’d have to be dumb to wear a mask (and no, his occasional weasel words on this subject do not erase his primary message). This (appropriately, and probably accurately) makes him appear to be an idiot, and therefore (inappropriately) leads the public to dismiss meaningful cost-benefit analysis as an idiotic exercise.

There are a thousand more examples; feel free to share your favorites in comments.

Click here to comment or read others’ comments.

Print Friendly, PDF & Email
Share

I Read the News Today, Oh Boy

I devoutly wish that Ruth Bader Ginsburg had lived on for a very long time. She was fair-minded, thoughtful, and occasionally brilliant. I valued her reasoning even when I disagreed with her conclusions, and because she was a careful thinker, I am confident that there were times when she was right and I was wrong.

I devoutly wish that Donald Trump were not the president of the United States, largely because he is everything that Ginsburg was not.

But clouds have silver linings, and I take great solace in the fact that Trump will (probably) appoint Ginsburg’s successor. History suggests that a Trump appointee will share the Ginsburg characteristics I most admire, and that a Biden appointee would probably not. The world is a complicated place.

Print Friendly, PDF & Email
Share

The Times They Have A’Changed

Thoughts on what it takes to be a successful presidential candidate, circa 1980.

From Joseph Kraft:

The emergence of President Carter and Ronald Reagan as the nearly certain nominees of their parties expresses not a failure of the system, but a true translation of how much the majority prefers nice men to effective measures.

From Florence King:

We want a president who is as much like an American tourist as possible. Someone with the same goofy grin, the same innocent intentions, the same naive trust; a president with no conception of foreign policy and no discernible connection to the U.S. government, whose Nice Guyism will narrow the gap between the U.S. and us until nobody can tell the difference.

Click here to comment or read others’ comments.

Print Friendly, PDF & Email
Share

The Rules of Excommunication

If Bernie Sanders wants to say that Fidel Castro occasionally did something good, while acknowledging that he often did things that were very bad, I think that’s a reasonable position. (It might also be reasonable to say that Adolf Hitler occasionally did something good, though offhand I can’t think of a good example.)

But surely — surely — if it’s reasonable to say this about Castro, then it’s enormously more reasonable to say that there were good people among the protestors in Charlottesville, Virginia, while acknowledging that there were also some very bad people. Because I have not the slightest shred of a doubt that the fraction of people on either side of that Charlottesville protest who were basically good is enormously greater than the fraction of Castro’s policies that were basically good.

You might want to argue that it’s not okay to acknowledge any goodness at all in a Hitler or a Castro or a large crowd of people that includes some number of violent neo-Nazis. I wouldn’t agree with you, because I think it’s always okay to acknowledge anything that happens to be true. But if that’s your position, you have to decide where to draw the line, and if you draw the line in a way that puts Trump beyond the pale, then Sanders is way beyond the pale.

In other words, I see how you can excommunicate both of them, I see how you can excommunicate just Sanders, and I see how you can excommunicate neither. My preference is neither. If your preference is otherwise, we can cheerfully disagree. But if you want to excommunicate just Trump, I’m very skeptical that you’re applying anything like a consistent standard. Feel free to prove me wrong in comments.

Click here to comment or read others’ comments.

Print Friendly, PDF & Email
Share

Stop-And-Think

I hold these truths to be self-evident:

  1. Any law whatsoever, no matter how desirable on balance, will impose some costs on someone somewhere.
  2. In any society with more than about 12 people, it is virtually certain that those costs will be borne unequally.
  3. If the costs are borne unequally, then the costs borne by various individuals are virtually certain to be non-trivially correlated with at least one observable characteristic.

For example: A law that says you have to pick up after your dog will be costlier for dog owners than for non-dog-owners. Dog owners, depending on the community, will be either disproportionately old or disproportionately young or disproportionately rich or disproportionately poor or disproportionately ill or disproportionately healthy.

Therefore, unless you are willing to conclude that all laws are bad essentially without exception, you cannot argue that a law is bad just because it imposes individual costs in a way that is correlated with observable characteristics.

Therefore when Michael Bloomberg is criticized for supporting a stop-and-frisk policy because it caused disproportionate pain to young people with dark skin, his critics are being either disingenuous or unthoughtful.

Continue reading ‘Stop-And-Think’

Print Friendly, PDF & Email
Share

Swamp Creatures

Here’s what I saw on the news tonight:

1) A President exploiting the power of his office to manipulate the justice system.

2) A presidential candidate boasting about how, in her first act as a state legislator, she exploited the power of her office to manipulate the insurance market (by requiring the purchase of additional insurance to cover the cost of extended hospital stays for new mothers of hospitalized infants).

The President seeks to change judicial outcomes for the benefit of his small band of cronies. The presidential candidate sought to change market outcomes for what she portrayed as the benefit of a small number of patients.

At least the President seems to know what he’s doing. The presidential candidate seems not to have understood, and still not to understand (or at least pretends not to understand), that you don’t make people better off by forcing them to buy additional insurance after the market has already revealed that they have other priorities.

I also saw a bunch of commentators who, like me, are outraged, appalled, and frightened by the arrogance of the President. None of them offered any comment on the arrogance of the presidential candidate — who, frighteningly enough, seems to me to be probably the least dreadful of the alternatives.

Click here to comment or read others’ comments.

Print Friendly, PDF & Email
Share

Slips and Lies

One winter day in the midst of her husband’s 1980 presidential campaign, Nancy Reagan told a crowd at the Heritage Foundation that she was happy to see “all this beautiful white snow and all these beautiful white people” — which she instantly corrected to “all these beautiful people”. I happened to be standing no more than a few yards from her at the time, and it was crystal clear from her speech pattern, her demeanor, and her facial expression that her slip of the tongue conveyed no deeper meaning (conscious or otherwise). I am quite sure that if snow had been green, she’d have referred to “all this beautiful green snow and all these beautiful green people”.

Much of the press, of course, thought otherwise, or pretended to, leading to a brief contretemps that fortunately blew over.

I was not present at Joe Biden’s recent speech, and I have not seen the video, but I am essentially certain that the phrase “Poor kids are just as bright as white kids” — which Biden, like Mrs. Reagan, instantly corrected — was an equally innocent slip of the tongue. I have little patience for those who are attempting to profit by suggesting otherwise. What Mr. Biden meant to say was that “poor kids are just as bright as wealthy kids”. And therein lies the true outrage. Because that statement is a lie.

Poor kids are not just as bright as wealthy kids. The sources for this empirical fact are easy to find, so I won’t review them here. There are several plausible explanations. First, IQ is highly correlated with wealth and IQ is heritable. Next, poverty is stressful, and stress impedes cognitive development. Et cetera.

Continue reading ‘Slips and Lies’

Print Friendly, PDF & Email
Share

A Matter of Perspective

Let’s stipulate that:

A. The border wall is stupid.

B. The border wall would cost about $5 billion.

According to Democratic congressional leadership, these reasons suffice to withhold funding for the border wall.

This is a radical new stance for the congressional leadership, which last year rejected the Trump administration’s bid to cut roughly $300 million a year from the budgets of the National Endowments for the Arts and Humanities. Assuming a 3% interest rate, that’s a present value of about $10 billion — enough to fund two border walls. (Take that, you pesky Canadians!).

One could argue that a border wall is not only stupid but a grotesque symbol of xenophobia. One could equally well argue that a National Endowment for the Arts is not only stupid but a grotesque symbol of government overreach and the politicization of everything.

Continue reading ‘A Matter of Perspective’

Print Friendly, PDF & Email
Share

Hypothetical Questions

Suppose, for the sake of argument, that the following three things are true:

  1. You believe, to the depths of your soul, that the future freedom, safety and prosperity of your 300 million countrymen depends critically on a construction project that would cost roughly 5 billion dollars, but that nobody else seems willing to fund.
  2. The welfare of your countrymen is one of your highest priorities. Sometimes you express this priority by calling yourself a “nationalist”.
  3. Your personal net worth is in the vicinity of 10 billion dollars.

Now my questions:

  1. Continuing to assume that all of these three things are true, what action do you take?
  2. If I observe you failing to take that action, can I reasonably infer that not all of these three things are true after all?

Click here to comment or read others’ comments.

Print Friendly, PDF & Email
Share

Quadratic Voting: A Pre-Primer

In honor of the forthcoming visit of Glen Weyl to the University of Rochester, I thought I’d offer a post explaining the idea behind one of Glen’s signature policy reforms: quadratic voting.

Suppose we’re going to hold a referendum on, say, whether to build a street light in our neighborhood.

The problem with giving everybody one vote is that (on both sides of the issue) some people care a lot more about that street light than others do. We’d like those who care more to get more votes.

In fact, we’d like to allocate votes proportional to each voter’s willingness to pay to influence the outcome. There are excellent reasons to think that willingness-to-pay is the right measure of “caring”. Those reasons will be evident to readers with some knowledge of welfare economics and opaque to others, but it would take us to far afield for me to get into them here. (For the record, if you’re encountering this measure for the first time, you’re almost surely raising “obvious” objections to which there are non-obvious but excellent rejoinders.) For this discussion, I’m going to take it as given that this is the right way to allocate votes.

Here’s the problem: If I allocate votes based on willingness to pay, people will simply lie. If you’re willing to pay up to $1 to prevent the street light, but know that you can get more votes by exaggerating your passion, that’s what you’ll probably do.

Okay, then. If we want to allocate votes based on willingness to pay, then we have to make people actually put some money on the table and buy their votes, thereby proving that they care. We could, for example, sell votes for $1 each. That way, people who care more will buy more votes and have more influence, as they should.

Unfortunately, that’s not good enough. If you care more about the issue than I do, you might buy more votes than I do — but there’s no reason to think you’ll buy more votes in direct proportion to your willingness to pay. Let’s suppose, for example, that the ability to cast a vote is worth $2 to you and $4 to me. Then I should get twice as many votes as you. But if votes sell for $3, I might buy quite a few, whereas you’ll buy none at all. That’s a lot more than twice as many.

So let’s try again: Instead of selling votes for a fixed dollar amount, we sell them on an increasing scale. You can buy one vote for a dollar, or two votes for four dollars, or three votes for nine dollars — and we’ll even let you buy in tiny fractions, like 1/10 of a vote for a penny. The price you pay is the square of the number of votes you buy. That’s the definition of quadratic voting.

Why the square, as opposed to the cube or the square root or the exponential? There really is something special about the square. To appreciate it, try an example: If a vote is worth, say, $8 to you, you’ll keep buying additional votes as long as you can get them for less than $8 each, and then stop. With quadratic voting, one vote costs you a dollar. You’ll take it! A second vote costs you an extra $3 (bringing the total to $4). You’ll take that too! A third vote costs you an extra $5, a fourth costs you an extra $7, and a fifth costs you an extra $9. So you’ll buy 4 votes and then stop. You can similarly check that if a vote is worth $24 to your cousin Jeter, Jeter will buy twelve votes and then stop. Jeter cares three times as much as you do, and he buys three times as many votes. And with a little calculus, you can check that if Aunt Murgatroyd’s vote is worth four or five or nine or twenty times more to her than your vote is to you, she’ll buy exactly four or five or nine or twenty times as many votes as you do. That’s exactly what we wanted. In that sense, this voting scheme works — and, except for minor variations, it’s the only scheme that works.

Continue reading ‘Quadratic Voting: A Pre-Primer’

Print Friendly, PDF & Email
Share

Kavanaugh v. Thomas

I keep hearing that the matter of Brett Kavanaugh is “just like Clarence Thomas and Anita Hill all over again”.

Seriously?

Point the First: Clarence Thomas stood accused of boorishness. Brett Kavanaugh stands accused of violent attempted rape. If all the accusations against Thomas were true, he deserved an elbow to the ribs. If the accusations against Kavanaugh are true, he should probably be in jail.

To suggest that there is even a rough equivalence here is sheer madness.

Continue reading ‘Kavanaugh v. Thomas’

Print Friendly, PDF & Email
Share

Down on the Farms

Suppose there’s a guy in your neighborhood who routinely harasses strangers on the street, calling them ugly names, maybe threatening them with violence, but always stopping short of anything that’s actually illegal.

You consider this bad behavior, so you work to pass some laws that will discourage it. Maybe you criminalize the behavior; maybe you tax it.

The new laws turn out to be somewhat effective. The guy tones it down. He still harasses people, but only half as much.

Question: Do we owe this guy something? Should the taxpayers cut him a check so he won’t feel so bad about having to rein himself in?

I’m going to go out on a limb and guess that most of you will answer “no”.

Here’s why I ask:

The President of the United States believes that under current circumstances, much international trade is a bad thing and ought to be discouraged. Unfortunately, there’s a bunch of farmers out there who have been behaving very badly (i.e. trading with foreigners) and the law hasn’t done much to stop them. So the President has expanded the scope of the law to punish this bad behavior via tariffs. And then he’s turned right around and announced a plan to compensate the bad guys.

Continue reading ‘Down on the Farms’

Print Friendly, PDF & Email
Share

The Tax Bill

Compared to an ideal tax code, it’s awful.

Compared to the pre-existing tax code, it’s a vast improvement.

Compared to my expectations going in, it’s a pleasant surprise. It required some real political courage to pass this thing, and political courage always surprises me. There’s also a lot of good sense in it, which sometimes surprises me even more.

Compared to what I suspect we could have had, if only that same good sense and political courage had been harnessed by a president who was capable of understanding the bill’s content, participating in its formulation, and selling it to the public, it’s something of a disappointment.

Scott Sumner does a superb job of summarizing the good, the bad and the neutral. Instead of quoting him extensively, I’ll (strongly) encourage you to go read the original. A few additional remarks:

Continue reading ‘The Tax Bill’

Print Friendly, PDF & Email
Share

Unhealthy

I have not read the Senate “health care” bill, but from the various summaries around the web, I am confident that Barack Obama is exactly correct in his pronouncement that this is not a health care bill. Republicans seem to be supporting the bill because it stems the tide of income redistribution and Democrats seem to be opposing it for the same reason.

But a health care bill that does nothing but change the distribution of income is (again in Obama’s words) not a health care bill. It’s an income redistribution bill, and a fairly stupid one at that. If you want either more or less redistribution, the way to do that is to adjust taxes on rich people and payments to poor people, not to muck around with the health care system.

On the other hand, if your goal is to make the health care system more efficient, then you’ll want a health care bill. What would it take to make the health care system more efficient? For one thing, it would require making people less reliant on insurance and more reliant on their own savings (probably in the form of Flexible Saving Accounts and Health Saving Accounts) so that their choices are constrained by an awareness of costs. This Senate bill, it seems, does absolutely nothing to address those issues. In fact, from what I’ve read, it leaves in place the tax deduction for employer-provided insurance (thereby continuing to incentivize people to buy too much insurance) and (at least according to some news articles) adds new taxes on Health Savings Accounts (thereby incentivizing people to rely even more on insurance). If we’re supposed to be marching toward more efficient health care, this sounds like a step backward, not forward.

Continue reading ‘Unhealthy’

Print Friendly, PDF & Email
Share

The Dire Prognosis

Here is what I wrote on this blog the day after the election:

The big loss is that there will be no unified right-of-center voice in American politics. Toomey, Portman and the rest of them will do what they can, but it’s Trump who will be taken to define Republicanism, which is to say that Republicanism will henceforth be pretty much the same thing as Democratism.

It gives me no pleasure to observe that with the new Trump-endorsed Republican health care plan, I stand vindicated.

Click here to comment or read others’ comments.

Print Friendly, PDF & Email
Share

The Long and Short Of It

The indispensable Don Boudreaux riffs on a comment here at The Big Questions to observe that one cannot consistently argue that both a) Citizen’s United gives outsized political power to corporations and b) corporations need to be nudged out of their excessive focus on quarterly statements. Political contributions, after all, do not ordinarily pay off within one or two quarters.

One can, I think, maneuver around Don’s point by maintaining that corporations focus on both the short and long runs, putting too much emphasis on the short run, but still putting enough emphasis on the long run to make it worth manipulating the political system. But that’s a tricky maneuver, and kudos to Don for pointing out that there’s at least some serious tension here.

Continue reading ‘The Long and Short Of It’

Print Friendly, PDF & Email
Share

Why She Lost

Hillary Clinton Campigns In Iowa, Meeting With Small Business OwnersFor your consideration:

I submit that Hillary Clinton lost because she did not make even a minimal effort to make herself palatable to people like me — people who care primarily about economic growth, fiscal responsibility, limited government, individual freedom and respect for voluntary arrangements.

Because I care about those things (and for a number of other good and sufficient reasons), there was never a chance I would vote for Donald Trump. I gave money to Jeb Bush. Then I gave money to Ted Cruz. Then I gave money to the “Never Trump” movement that was trying to foment a revolt at the convention. Then I gave money to pro-growth Senate candidates. For me, the only remaining choice was between voting for Clinton and not voting for Clinton. (I also considered sending her money.)

I knew that if I voted for her, I’d never feel good about it. That was too much to ask. But I’d still have voted for her, if only she hadn’t gone out of her way to make me feel awful about it. And that she just would not or could not stop doing.

Every time I listened to her recite the litany of reasons not to vote for Trump, I cheered her on. But she seemed incapable of getting through a speech without veering off into the loony-land of free college and unfree trade. Most disturbingly — partly because it was most disturbing and partly because she harped on it so often — was the glee with which she looked forward to rewriting other people’s labor contracts and vetoing their voluntary arrangements. Do you want to accept a wage of less than $12 an hour in exchange for, say, more on-the-job training or more flexible work hours? Hillary says no. Do you want to forgo parental leave in exchange for, say, a higher salary? Hillary says no. And on and on.

Continue reading ‘Why She Lost’

Print Friendly, PDF & Email
Share

How to Feel (Much) Better About the Outcome of the Presidential Election

I want to really marry the public and the private sector.

–Hillary Clinton

Click here to comment or read others’ comments.

Print Friendly, PDF & Email
Share