1. There is excess fear of inflation and hyperinflation in the current economic environment. Further there is often an excess estimate of the costs of inflation in the two to five percent range.
2. We know much less about the causes and drivers of economic growth than we like to admit, and when pushed on this issue we fall back to citing relatively simple cases with extreme differences, such as East vs. West Germany.
3. Lower taxes don’t spur economic development as much as it is often claimed, at least not below the “fifty percent or less of gdp” range.
4. There are many climate change issues of relevance here, not mostly economics, but it seems remiss not to mention them.
5. I’m all for Health Savings Accounts, but unless done on a Singaporean scale, and with lots of forced savings, they’re not a health care plan to significantly benefit most Americans. There is less of a coherent health care plan, coming from this side, than one might like to think.
6. There is already considerable health care cost control embedded in the ACA, most of all for Medicare, and this is not admitted with sufficient frequency.
7. When it comes to the historical determinants of the Industrial Revolution, the Great Divergence, and the like, the importance of state-building in that process is often neglected.
8. The story of steady and significant economic progress for most Americans is accepted too readily.
9. The role of market failure in the recent financial crisis is underestimated. It is also believed that we can somehow commit to a policy of no future bailouts. Promoting that myth will make future bailouts more likely.
10. Relying on liability law, whether or not it is a good idea, is not intrinsically more pro-market, more libertarian, or less interventionist.
via Common mistakes of right-wing and market-oriented economists?.
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