Arnold Kling: August 2005 Archives

Grey-Area Medicine

"If people 'go to the doctor grudgingly, because we're sick' -- i.e. because we conclude we're sick -- you'd think we could also conclude rationally when we're more sick and when we're less sick, when we really need of a... Read More

How Economists Really View Health Insurance

"Policy is driven by more than politics, however. It is equally driven by ideas, and in the past few decades a particular idea has taken hold among prominent American economists which has also been a powerful impediment to the expansion... Read More

Libertarian Basics

"While American conservatives have retained their passion for Big Ideas, their passion for the biggest idea of all -- the Holy Grail that will refute liberalism -- has waned... What libertarians do not have, however, is a comprehensive argument for... Read More

Incumbent Politicians vs. the Long Tail

Which of the following describes your party affiliation? (a) I identify with the platform and leading spokesmen of the Democratic Party   (b) I identify with the platform and leading spokesmen of the Republican Party   (c) None of... Read More

Where I'd Bet Against Kurzweil

"I proposed a bet to Kurzweil. Under the bet I would give him a very small amount of money today and in return at some future agreed-upon date he would give me a 10-meter-diameter solid diamond sphere." -- James D.... Read More

We Need 250 States

"It is always costly to ensure that agents [government officials] act on behalf of the citizens and that they do not use their power to extract rents from their constituents...   The costs of monitoring agents increase not only with... Read More

The Proper Attitude Toward Financial Regulation

Editors note: this is the last in a series of essays on financial markets and the economy.   6. Financial Regulation   "Remember: GENES ARE NOT THERE TO CAUSE DISEASES" -- Matt Ridley, Genome, p. 263   Frequently, we open... Read More

Financial Innovation in Perfect Capital Markets

Editors note: this is the fifth in a series of essays on financial markets and the economy. 5. Financial Innovation   "A significant fraction of Fischer's work for the corporate finance side of Goldman concerned potential applications of one or... Read More

One Price for Risk

Editors note: this is the fourth in a series of essays on financial markets and the economy. 4. One Price for Risk   "The CAPM world that Fischer imagined back in 1969 is a world much simpler than the one... Read More

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