I don’t think minimum wage hikes are going to help here. A tale of two work-weeks:
In sum, federal fiscal policy decisions in recent years added enormously to deficits and have produced the highest levels of spending, deficits, and debt relative to GDP since the aftermath of World War II. I leave it to others to determine whether this can reasonably be termed “austerity.”
In reality, living within your means (and living well, within your means), should feel a lot more successful than it does, but unfortunately we’re creatures of comparisons.
As we wrote about in a recent blog post, happiness is not related to a set level of spending, but rather positive changes upward every year.
This is long, but really interesting. A scientific approach to finding consensus about climate. The “trouble” is the policymakers and advocates haven’t been allowed as much influence. Consensus is difficult enough.
Human beings evolved in small bands. Group identity – and group identity’s tendency to corrupt our sense of justice – is in our DNA. Once you learn this harsh truth, though, you can, should, and must compensate for your immoral urges. Review your judgments of out-group members for draconian harshness. Review your judgments of in-group members – yourself included – for maudlin absolution. You won’t make a lot of friends, but you will be a better person.
To hell with Gatsby’s green light! Maybe the classroom is not the best setting for children to have profound literary experiences. Give the kids something they can relate to, immerse themselves in, and even copy!
Hold up. Economists answering this question are supposed to ‘take into account’ ALL of the economic consequences? including ‘any’ ‘likely future effects’? Over the timescale of [now to infinity)?
What discount rate are they meant to use? What utility metric? It doesn’t say so I guess they just substitute Their Favorite. But hey, here’s a possible utility-metric that probably coincides at least some with the metric economists (or anyone else for that matter) is implicitly going to use when answering Hopelessly Vague Questions:
“Policies that I like get scored a utility of One Zillion. Policies I don’t like get scored a Zero Zillion.”