Employment: update on mimimum wage evidence
Nice graphs and analysis from Carpe Diem.
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Government failure: How politics ruins the health insurance market
Carpe Diem quotes Thomas Sowell: If medical insurance simply covered risks-- which is what insurance is all about-- that would be far less expensive than covering completely predictable things like annual checkups. Far more people could afford medical insurance, thereby reducing the ranks of the uninsured. How the incentives create a political failure that gets labeled as market failure: But all the political incentives are for politicians to create mandates forcing insurance companies to cover an ever increasing range of treatments, and thereby forcing those who buy insurance to pay ever higher premiums to cover the costs of these mandates. That way, politicians can play Santa Claus and make insurance companies play Scrooge. It is great political theater.
Iran: Confusion as a strategy?
From Trita Parsi writing in Time magazine: Iran is the 21st century equivalent of 1930s Russia — a riddle wrapped in a mystery inside an enigma. The Iranians haven't stumbled upon this mystifying state coincidentally, and the enigma isn't the result of outsiders' failure to try to understand them. Rather, the Iranian government has a deliberate policy aimed at confusing the outside world about its goals and decision-making processes. "There is an intention out there to confuse," a noted Iranian professor told me in Tehran a few years ago. The rulers in Tehran think that opacity and the perception of unpredictability buy them security.
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