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Politics and Economics
“Profit is the money a business pulls in after accounting for all expenses. Whether it's a lemonade stand or a publicly-traded multinational company, the primary goal of any business is to earn money, therefore a business performance is based on profitability, in its various forms.” — What Is Profit? by Will Kenton/Investopedia Updated Nov 13, 2019
News Flash! According to a recent Pew Research Survey, most Republicans and Democrats can’t stand each other and large numbers consider the other side to be closed-minded, immoral, and dumb. This got me to thinking: if you want to better understand what people care about, ask them what they hate. And if you want to know what people hate, read the posted comments on political opinion pieces. So that’s what I did.
Relative to GDP, the federal debt may be nearly twice what it was 30 years ago, but it is costing the feds half as much to service - thanks to low interest rates.
…A much better of indicator of household well-being is the labor market participation rate for individuals between 25-54, which excludes early retirees, most students, and a good portion of the disabled (who skew older). And here the picture looks better…
Cross-cultural studies have found that people generally agree the needy deserve some sort of help (van Oorschot and Roosma, (2017). Such generosity comes with qualifications, though. For example, individuals “seen as being personally responsible for their neediness are seen as less deserving (if at all)” (van Oorschot and Roosma, (2017). How much control the needy have over their circumstances, and whether these circumstances are so bad that charitable assistance is warranted are additional considerations. In lab studies, young children would not help a distressed child if her distress appears unjustified, such as crying over something trivial. They would only help when the distress seems justified by a clear cause (Tomasello 2019).
Who would be tempted to stop working, reduce their work hours, take longer breaks between jobs, plan gap years from work, or simply retire early if they could count on a UBI check of, say, $1000 a month? Some candidates….
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As if Trump were so bad, it’s okay to downplay the shortcoming of “anyone but Trump”. I don’t share that sentiment. So thank you FactCheck.org for combing through the Democrat debates and calling out candidates who spoke less than the truth.
Per FactCheck.org (and in their own words), here are questionable statements made by Pete Buttigieg during the Democrat debates…
Per FactCheck.org (and in their own words), here are questionable statements made by Elizabeth Warren during the Democrat debates:….
The news media tend to focus on President Trump’s exaggerations, misstatements and false claims - not a hard task, given the president’s tendency for loose talk. No such due diligence with the current crop of Democrat candidates. No ongoing catalogue of lies, ala CNN, of anyone other than Donald J. Trump. As if Trump were so bad, it’s okay to downplay the shortcoming of “anyone but Trump”. I don’t share that sentiment. So thank you FactCheck.org for combing through the Democrat debates and calling out candidates who spoke less than the truth.
FactCheck.org is a project of the Annenberg Public Policy Center of the University of Pennsylvania. According to its website, FactCheck.org is a nonpartisan, nonprofit “consumer advocate” for voters that aims to reduce the level of deception and confusion in U.S. politics. It monitors the factual accuracy of what is said by major U.S. political players in the form of TV ads, debates, speeches, interviews and news releases.
The ASBI I’m proposing would cost around $567 billion a year. Unfortunately, “savings” from government programs downsized or eliminated as a result of the ASBI would not be enough to fund the entire $567 billion program. How to fund the balance? Here’s an idea…
May I propose a modest alternative: the Adult Student Basic Income (ASBI). The ASBI would provide a basic income (say, $1,000/month) up to six years total (minimum one month at a time) for adults enrolled at least part-time in postsecondary training and education programs, from ESL classes to apprenticeships to graduate school. Like the UBI, the ASBI benefit would not be means-tested, so recipients could work without jeopardizing their payments. The ASBI would also effectively combat poverty, income volatility, job instability, and lack of social mobility by subsidizing incomes while recipients increase their earning potential. Unlike the UBI, the ASBI is time-limited and would not subsidize a permanent way of life. And while the ASBI is conditional, the required adult education and training is not so onerous as to preclude working at the same time. Plus, it’s affordable.
The Pursuit of Happiness requires a bit more unpacking. The contemporary sense of happiness mixes "lots of positive emotions" with life satisfaction. That's too small, too trivial, for me. I'm looking for a sense of happiness that is less about feeling good and more about having a sense of meaning and purpose. As it turns out, my way of thinking about happiness is pretty close to that of the Founding Fathers….
So what does matter to Americans? That is, what are the essentials of their own version of the American Dream? Allowing that the American Dream means different things to different people, there are some things that most Americans care deeply about: freedom, family, and a comfortable retirement (followed by contributing to the community and then owning a home). That’s according to a survey conducted by Pew Research a couple years ago. Check it out:
This is a Reblog of “The toxic rhetoric of climate change” by Judith Curry. Posted on December 14, 2019 (link here). I highly recommend you check out the comments on original blog and to explore Judith Curry’s other posts.
“Optimism is naively believing that everything will be all right, when we know that reality is far more complex and messy…. Optimism is like a sugar high that quickly fades…” - “Why to choose hope over optimism for 2020” by Kevin O’Brien
Some might object that Study 1 did show a decline in median income. However, the authors of Study 1 were also Study 4 authors and that study (published 15 years after Study 1) showed a substantial increase in median income. Bottom line: US median income has risen a lot over the past 40 years. And, yes, that’s controlling for inflation (no matter how inflation is calculated).
I was speaking recently with a City of Oakland policy director about the negative press the city was getting due to all the luxury housing units being built there. One news article even claimed these new units were increasing the area’s cost of housing, because they were more expensive than the existing luxury housing stock. The policy director explained that the point of all that luxury development was not to lower the cost of luxury housing (although in time it would) but to increase the supply of affordable housing. Say what?!
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Third, despite months of hearings, endless media coverage and the impeachment itself, Americans are cooling on the idea of removing Trump from office…
Gallup has been asking the open-ended question “What do you think is the most important problem facing the country today?” every month for decades. And the answers have indeed been revealing. Here are the latest poll results: