James Pethokoukis

Politics and policy from inside Washington

10 ways to make a better world

Sep 15, 2009 17:17 UTC

Here is the list from New Scientist:

1. Base economic policy on scientific evidence

2. Legalize drugs

3. Give police your DNA

4. Find non-economic measures of success

5. Study climate geo-engineering to see if it would really work

6. Tax carbon and equally distribute the proceeds

7. Embrace genetic engineering

8. Protect the seas

9. Pay people to feed energy back into power grid

10. Move to a four-day work week

COMMENT

…under “Political Risk: Here is the list from New Scientist:” – oxymoron or paradox ? Shocking article.

1. Base economic policy on scientific evidence: scissors beats paper.

2. Legalize drugs: yeah right, like in Afghanistan ?

3. Give police your DNA: yeah right and why, guilty before charged ?

4. Find non-economic measures of success: will we be paid for this ?

5. Study climate geo-engineering to see if it would really work: yeah right, and donate 6 billion PC’s for research purposes to include all ?

6. Tax carbon and equally distribute the proceeds: this would require an accounting system to calculate the tax in the first place.

7. Embrace genetic engineering: I only want to play God when making a baby.

8. Protect the seas: too late she cried.

9. Pay people to feed energy back into power grid: they will require a budget to create/store and channel this energy back in the first place.

10. Move to a four-day work week: …and work 10 hours each day, I am in.

Mufaso, unless you are joking or creating feeble debate, you belong in the jungle with Rafiki.(posted September 15th, 2009 10:58 pm GMT).

Posted by Casper Lab | Report as abusive

Obama forgets to talk about unions when speaking to union

Sep 15, 2009 16:53 UTC

It was at this point during the president’s Ohio speech to GM workers today that I thought he was going to talk about card check: “And yes, just in case you were wondering …”

But instead he talked about this:

… we are fighting for an America where no American should have to worry about going without health insurance or fear that one illness could cost them everything. “

Me: Not a good sign for card check, or unionism in general, I would think. I mean, he doesn’t even mention the word “union” — at least in his prepared text.

COMMENT

Very well put. He stated that “we” are fighting for…. I don’t know who “we” are, but it’s not me. After his congressional speech failed miserably last week, I don’t think we have to worry about the government taking control of our healthcare any time soon.

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They myth of Lehman, part two

Sep 15, 2009 10:07 UTC

John Taylor has maintained that it was the government’s reaction to Lehman that freaked out financial markets. Now Luigi Zingales and John Cochrane make a similar pitch in the WSJ:

On Sept. 22, bank credit-default swap (CDS) spreads were at the same level as on Sept. 12. (CDS spreads are the cost of buying insurance against default.) On Sept. 19, the S&P 500 closed above its Sept. 12 level. The Libor-OIS spread—which captures the perceived riskiness of short-term interbank lending—rose only 18 points the day of Lehman’s collapse, while it shot up more than 60 points from Sept. 23 to Sept. 25, after the TARP testimony. (Libor—the London Interbank Offer Rate—is the rate at which banks can borrow unsecured for three months.)

Why? In effect, these speeches amounted to “The financial system is about to collapse. We can’t tell you why. We need $700 billion. We can’t tell you what we’re going to do with it.” That’s a pretty good way to start a financial crisis.

COMMENT

Dear friend,
Let allow me boasting of myself in regard to articles.
Major of your articles on pure economics are very interesting,grasping and reaches to high school of thoughts.
Here,you have narrated Lehman part two,
Everywhere, after shock of Lehman brothers, financial organisations closure and its impact.
Instead of forgetting these worst financial disaster,you-means journalists and famous world news channels,websites and newspapers had almost conducting ritual ceremony to this closure.
To conclude here,we need 700 million dollars for recovery and for running financial system.
This financial journey is very hard,roads are in bad conditions and lot of confusions, daily more statements on this subject by world leaders,economists, blogs are common on now a days.
I am typing one semi real solace sentences for more interests and for correct solution finding exercises from famous schools of economic theories.
Economic roads are very rough ,but we will overcome from known hurdles with future years.

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