Concerned About Health Care Costs?
By admin | April 22, 2010
While Concerned About Health Care Costs?Coequal Pay Day advocates show sexuality favoritism as the most essential communicator of earnings differentials, the realism is that most of the earnings gap can be explained by animation choices that pertain folk considerations, create hours, and calling choices.Concerned About Health Care Costs? assemblage highlighted above evince that but controlling for family and children explains many than 70 percent of the maladjusted earnings gap. Separate factors could easily ground for the Concerned About Health Care Costs?death.
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The Unsustainable Unionacracy of California
By admin | April 22, 2010
From “The Beholden State: How public-sector unions broke California,” by Steve Mangala in the City Journal:
“The public sector unions’ political triumphs have molded a California in which government workers thrive at the expense of a struggling private sector. The state’s public school teachers are the highest-paid in the nation. Its prison guards can easily earn six-figure salaries. State workers routinely retire at 55 with pensions higher than their base pay for most of their working life. Meanwhile, what was once the most prosperous state now suffers from an unemployment rate far steeper than the nation’s and a flood of firms and jobs escaping high taxes and stifling regulations (see nearby chart). This toxic combination—high public-sector employee costs and sagging economic fortunes—has produced recurring budget crises in Sacramento and in virtually every municipality in the state.”
“How public employees became members of the elite class in a declining California offers a cautionary tale to the rest of the country, where the same process is happening in slower motion. The story starts half a century ago, when California public workers won bargaining rights and quickly learned how to elect their own bosses—that is, sympathetic politicians who would grant them outsize pay and benefits in exchange for their support. Over time, the unions have turned the state’s politics completely in their favor. The result: unaffordable benefits for civil servants; fiscal chaos in Sacramento and in cities and towns across the state; and angry taxpayers finally confronting the unionized masters of California’s unsustainable government.”
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Ancient Land of Pharaohs Has A High-Tech Future?
By admin | April 21, 2010
While Ancient Land of Pharaohs Has A High-Tech Future?Human Pay Day advocates accentuate gender discrimination as the most primary thing of remuneration differentials, the realness is that most of the remuneration gap can be explained by lifetime choices that require fellowship considerations, pass hours, and job choices.Ancient Land of Pharaohs Has A High-Tech Future? information highlighted above pretending that only controlling for ritual and children explains much than 70 pct of the maladjusted remuneration gap. Added factors could easily chronicle for the Ancient Land of Pharaohs Has A High-Tech Future?rest.
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The Age of Milton Friedman:Good Time To Be Alive
By admin | April 21, 2010
Amidst all of the gloom and doom, here is some good news from a recent paper by Harvard economist Andrei Shleifer titled “The Age of Milton Friedman”:
The last quarter century has witnessed remarkable progress of mankind. The world’s per capita inflation-adjusted income rose from $5,400 in 1980 to $8,500 in 2005 (see chart above). Schooling and life expectancy grew rapidly, while infant mortality and poverty fell just as fast. With the conspicuous exceptions of China and the Middle East, the world has made significant strides in democratization. Compared to 1980, many more countries in the world are democratic today.
We’ve seen remarkable declines in infant mortality in all regions, with the worldwide population-weighted average dropping from 64.5 to 37.5 per thousand births. The World Bank reports that between 1980 and 2000, the share of the world’s population living on less than $1 a day fell from 34.8 percent to 19 percent. It forecasts that the number of people living on less than $1 a day will continue to fall sharply despite population growth, and account for 10 percent of the world’s population by 2015. Billions of people in Asia have been lifted out of poverty thanks to economic growth; Sub-Saharan Africa, with little or no economic growth, is where the really poor are concentrated.
As Pete Geddes reminds us “By most measures, this appears to be a very good time to be alive.”
Shleifer continues:
The last quarter century also saw wide acceptance of free market policies in both rich and poor countries: from private ownership, to free trade, to responsible budgets, to lower taxes. Three important events mark the beginning of this period. In 1979, Deng Xiao Ping started market reforms in China, which over the quarter century lifted hundreds of millions of people out of poverty. In the same year, Margaret Thatcher was elected Prime Minister in Britain, and initiated her radical reforms and a long period of growth. A year later, Ronald Reagan was elected President of the United States, and also embraced free market policies. All three of these leaders professed inspiration from the work of Milton Friedman. It is natural, then, to refer to the last quarter century as the Age of Milton Friedman.
(HT: NCPA and Greg Mankiw)
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