Monday, June 29, 2009

Bryan Caplan spanks Paul Krugman

pretty good on healthcare and market principles.

UPDATE: Bryan also thinks Fed Chair Bernanke should be canned. Is this what a rational voter would think?

UPDATE: Greg Mankiw lays on some gentle slaps of his own:
The Obama administration says it wants a public insurance plan that will compete on a level playing field with private plans (that is, without taxpayer subsidies). Is there any cogent economic analysis that suggests that such a policy addresses problems of adverse selection and moral hazard? None that I know. If it has to stand on its own financially, the public plan has no special advantage in addressing these issues.
On the issue of tone, I again think I understand Paul's point of view. He likely believes that civility is overrated. He seems to think that in the blogosphere, and perhaps in the public debate more generally, you score points simply by insulting your intellectual adversaries. Sadly, I am afraid he may be right.

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