In my chat today, a reader asked me to respond to Megan McArdle's lengthy case against national health insurance. The problem is that, well, there's not a lot to respond to. In 1,600 words, she doesn't muster a single link to a study or argument, nor a single number that she didn't make up (what numbers do exist come in the form of thought experiments and assumptions). Megan's argument against national health insurance boils down to a visceral hatred of the government. Which is fine.
Craig Pirrong submits: Chicago finance prof Luigi Zingales has written a short oped on OTC derivatives markets. Considering the source, it is very disappointing, not to say embarrassing. Indeed, it seems that Luigi is on the same frequency as Kenneth Griffin of Citadel: their arguments, such as they are, are
Mercedes-Benz plant in Tuscaloosa, Ala. (Gary Tramontina/The New York Times)
My University of Chicago colleagues Josh Rauh and Luigi Zingales have written an insightful essay on G.M.'s plight and what the government should do about it.
They, like virtually all economists, think the auto industry bailout under consideration is not the right solution. They believe the [...]