Cut the Budget: Apply Reynolds’ Law!

David French reflects on Reynolds’ Law (which I have discussed, and which Glenn Reynolds discussed on Tuesday) and its application to higher education: When you believe, simplistically, that college somehow equals success, then vacuuming more people into college just makes sense. Yet you’re vacuuming in real people, not stimulus-response lab rats. And many of these real people are quite unprepared for traditional workloads, unused to … Continue reading Cut the Budget: Apply Reynolds’ Law!

If the United States were a business….

our stock price would be plummeting. That’s the upshot of this report, which is worth studying. The beginning: Our country is in deep financial trouble. Federal, state and local governments are deep in debt yet continue to spend beyond their means, seemingly unable to stop. Our current path is simply unsustainable. That’s what the Tea Parties have been all about. And that’s what the Left … Continue reading If the United States were a business….

K-Lo’s My Homie

For whatever reason, my personal brand of self-expression seems to tickle Kathryn. What can I say?  After 6 minutes of actuarial foreplay, with a climax of “If you think that [the American people] want a government takeover of health care, I respectfully submit, you aren’t listening to them,” my conservative bodice is officially ripped.   What isn’t shown in the video is the sputtering, rambling, shambling, … Continue reading K-Lo’s My Homie

Another Bad Example

Nicholas Kristof wrote an editorial in the New York Times illustrating the need for Obamacare.  John, from Oregon, faced a devastating illness, lost his job, lost his health coverage, and couldn’t find a doctor who would treat him.  Michelle Malkin and various readers of the Times have taken the story apart.  It turns out that John could have been covered under his wife’s health insurance … Continue reading Another Bad Example

Why Government-run Health Care (or anything else) Is a Bad Idea

Let’s say you have a good idea for serving new customers, or old customers more effectively.  In a private setting, that’s great.  You benefit your customers, and you make money doing it.  There’s every incentive to develop your idea and implement it. In a government setting, however, that’s not true at all.  Customers don’t make you money; they cost you money.  You have no incentive … Continue reading Why Government-run Health Care (or anything else) Is a Bad Idea

Health Care Equality

Robert Samuelson reports (HT: Greg Mankiw): t is widely assumed that health care, like most aspects of American life, shamefully shortchanges the poor. This is less true than it seems. Economist Gary Burtless of the Brookings Institution recently discovered this astonishing data: on average, annual health spending per person — from all private and government sources — is equal for the poorest and the richest … Continue reading Health Care Equality

Another Ponzi Scheme

Many have noticed that the Social Security system is essentially a Ponzi scheme, a pyramid that depends on the entry of increasing numbers of people. People who entered the system early profited immensely. People entering it when I did are fated to receive poor returns, assuming the system survives. People entering it now—that means YOU, graduates!—are going to lose big. John Hinderaker notes that the … Continue reading Another Ponzi Scheme