Story Telling

Holy Crap!

My favorite reporter sent me a text last night, tipping me off to this:

Council decriminalizes pot possession

I can hardly believe it. Kudos to them for trying to restore some sense to drug policy. The police continue in their defense of harsh laws with an inability to apply any economics to the situation:

"It's part of a very violent equation ... Anything we do to reduce the penalties helps those drug cartels," Kondracki said Tuesday. "It's almost like subsidizing them.

Actually Ed, its the making it illegal, and reducing the supply that causes price to rise and therefore induces violence. Its supply and demand and you are the one subsidizing the dealers, by catching and incarcerating some of their competition. You don't see people killing each other over aspirin do you? Maybe we send the wrong message by making that legal too?

Competition

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5 Myths About Prostitution

5 Myths About Prostitution:

1. Prostitution is an alleyway business.
2. Men visit sex workers for sex.
3. Most prostitutes are addicted to drugs or were abused as children.
4. Prostitutes and police are enemies.
5. Closing Craigslist's "adult services" section will significantly affect the sex trade.

ECO120 Misc

1. The Economist's (mis?)interpretation of the effects of fiscal austerity. Alesina's correction.

2.  If China's Currency Rose, Would U.S. Get Jobs Back?: [NPR Audio]

3.  Some 3,000 Millionaires Claim Jobless Benefits, IRS Data Show. [Bloomberg]

4.  Study Finds the Mortgage Interest Deduction to be Ineffective at Increasing Ownership. [Tax Foundation]

Healthcare

An excellent series of blog posts on our healthcare expenditures in this country. A snippet from the poignant conclusion:

But there are a few things we all have to own up to. The first is that most of the “extra” spending is in areas of care. So, please, let’s stop pretending that cost containment can be painless or unnoticed. The second is that, to make cost reform feasible, we will need to have all these sectors share in the pain. That won’t be popular, but at least it might be fair. Moreover, it will increase the chances of success.

Got Game?

Got Game?