I was surprised to read this morning that the Environmental Protection Agency has decided that over 150 million Americans--more than half the population--breathe air that is below federal air quality standards. You’d think that if over half the country was coughing and wheezing it up on its way to work each day there would be a national outcry.
Bush should hold more press conferences, to provide us with ever more windows into the mind of one of the most dangerous men ever to occupy the White House. Why must we watch? We don’t want to end up like pathetic George – blind to reality, muttering clichés, oblivious to the wreckage and evil for which he is responsible. We need to know the truth, and the truth that this man is dangerous came out in spades in his press conference. [Full Article]
The theory of public goods (and bads) is pretty simple. The argument is that there are welfare-enhancing trades that would occur but do not because property rights to all the valuable characteristics of a so-called public good cannot be specified. “Basic science” is a perfect example. Presumably, we all benefit from basic science. However, scientists cannot contract with everyone who benefits from basic science.
The CSciMon runs an inadvertantly hilarious article on what happens to an anti-business business that becomes a consortium and eventually a big business with high fees for fair-trade certification. By adhering to dated ILO standards with a green twist, the simpliest points seemed to have escaped these people.
In foreign policy, if not yet in economic affairs: “We keep repeating the same mistakes. The story behind last week’s uprising by followers of Moktada al-Sadr bears a striking resemblance to the story of the wave of looting a year ago, after Baghdad fell.... Last July they confidently predicted an end to the insurgency after Saddam’s sons were killed. In December, they predicted an end to the insurgency after capturing Saddam himself. Six weeks ago — was it only six weeks?
The latest reading of the total US Federal debt — including social security obligations — comes in at a whopping $7,161 billion. Even at a lowly interest rate of 3.5%, this would cost every one of the estimated 107.8 million private sector workers around 4 1/2 weeks’ wages to service, much less to pay down. In the past 12 months, the total has risen by an inordinate 10.8% — or by $700 billion.
