Skip to main content

Economics and politics

I am working on re-arranging my Principles class in order to discuss certain topics before November 4th. One of the big topics that I'm moving up is asymmetric information (of course, with the chaos of this week, I almost want to chuck my entire syllabus and just get straight to moral hazard this week, but since my stress level is already way higher than is healthy, I'll settle for getting to it in a couple weeks). My plan is to spend an entire day talking about health care and a new study of McCain's health care plan gives me plenty to talk about. To quote the abstract:
Senator John McCain's (R-AZ) health plan would eliminate the current tax exclusion of employer payments for health coverage, replace the exclusion with a refundable tax credit for those who purchase coverage, and encourage Americans to move to a national market for nongroup insurance. Middle-range estimates suggest that initially this change will have little impact on the number of uninsured people, although within five years this number will likely grow as the value of the tax credit falls relative to rising health care costs. Moving toward a relatively unregulated nongroup market will tend to raise costs, reduce the generosity of benefits, and leave people with fewer consumer protections.
On a not-unrelated-note, Scott Adams (yes, of Dilbert fame) has released his survey of economists. Adams, an econ major himself, wanted to know which candidate economists believe would be better for the economy. He couldn't find the answer anywhere so he personally paid for the survey to be done. The answer: Obama.

I talk to my students a lot about positive and normative analysis and I've always been proud of the fact that they rarely can figure out what political party I belong to. But given how messed up McCain's policies are, from an economics standpoint, I am now worrying that my students will think I'm not being objective, even if I am.
Labels:

Comments

Post a Comment

Comments that contribute to the discussion are always welcome! Please note that spammy comments whose only purpose seems to be to direct traffic to a commercial site will be deleted.

Popular posts from this blog

What are the costs?

I came across an interesting discussion about a 19-year-old intern who was fired from The Gazette in Colorado Springs for plagiarism. There appears to be some controversy over the fact that the editor publicly named the girl in a letter to readers (explaining and apologizing for the plagiarism), with some people saying that doing so was unduly harsh because this incident will now follow her for the rest of her career. I was intrigued by this discussion for two reasons - one, it seems pretty clear to me that this was not a case of ignorance (as I have often encountered with my own students who have no idea how to paraphrase or cite correctly) and two, putting aside the offense itself, I have often struggled with how to handle situations where there are long-term repercussions for a student, repercussions that lead the overall costs to be far higher than might seem warranted for the specific situation. As an example of the latter issue, I have occasionally taught seniors who need to p
5 comments
Read more

What was your high school economics experience like?

As I mentioned in my last post , I am asking my Econ for Teachers students to reflect on their reading by responding to discussion prompts. It occurred to me that it wouldn't be a bad idea for me to share my thoughts on those issues here and see if anyone wants to chime in. For this week, the students were asked to read the California and national content standards , an article by Mark Schug and others about why social science teachers dread teaching economics and how to overcome the dread, an article by William Walstad on the importance of economics for understanding the world around us and making better personal decisions (with some evidence on the dismal state of economic literacy in this country), and another article by Walstad on the status of economic education in high schools (full citations below). The reflection prompt asks the students to then answer the following questions: What was your high school econ experience like? What do you remember most from that class? How do
2 comments
Read more

When is an exam "too hard"?

By now, you may have heard about the biology professor at Louisiana State (Baton Rouge) who was removed from teaching an intro course where "more than 90 percent of the students... were failing or had dropped the class." The majority of the comments on the Inside Higher Ed story about it are supportive of the professor, particularly given that it seems like the administration did not even talk to her about the situation before acting. I tend to fall in the "there's got to be more to the story so I'll reserve judgment" camp but the story definitely struck a nerve with me, partly because I recently spent 30 minutes "debating" with a student about whether the last midterm was "too hard" and the whole conversation was super-frustrating. To give some background: I give three midterms and a cumulative final, plus have clicker points and Aplia assignments that make up about 20% of the final grade. I do not curve individual exams but will cu
3 comments
Read more