Mencken: "Man can only achieve dignity if superior men are given absolute freedom to think what they want to think and say what they want to say."
When conservatives and libertarians read stuff like this, they condemn government. The better response would be to get in on the good stuff.
Lots of studies show that people with kids are less happy than those without kids. People also complain that everyone seems to ignore these studies. I’m with Ulysses though. Having kids makes you more and less happy. Actually, everything that makes you really happy makes you unhappy for a while. If you don’t have to work at something a bit, it’s worthless (by definition).
All the smart people are suggesting that the Fed target nominal GDP instead of targeting inflation. This seems too clever to me, after all, nominal GDP is just GDP and inflation. Let’s say GDP shrinks by a billion dollars. Targeting NGDP means that you would print money until NGDP gets back the billion plus some amount (after all, we have to allow for constant progress and what is constant progress if not artificial increases in GDP?). Essentially, targeting NGDP gives the central bank a license to ignore inflation. "Who cares if inflation is 15%? We’re not targeting that, we’re targeting a level of NGDP?" You can almost hear Ben Bernank saying something like this. This idea fits with my general thesis that progress in macroeconomics is equivalent to proposing more irresponsible policies. Telling central banks to ignore inflation is retarded.
It’s important to remember that there isn’t enough money in Europe to bail out the sovereigns and the banks.
The bureaucracy pwns the education reformers. Efforts to reform the bureaucracy are always welcome, as far as I’m concerned, since they’ll always result in raising my salary.