Archivio per 14 novembre 2014

14
Nov
14

The Jonathan Gruber Controversy and Washington’s Dirty Little Secret

It’s common for laws to be structured in ways that might not be very efficient but sound good for political consumption.

Suppose that Congress decides that everyone in America should have an iPhone. There are two ways it can do this:

1) The government could allocate money to buy all Americans iPhones.

2) The government could require that everybody buy an iPhone but create a tax credit equivalent to the price of the phone.

To an economist, these things are pretty much identical. To a politician, they are very different. The first is a big-spending government giveaway. The second is a tax cut. And in that distinction lies the heart of the firestorm around comments by one of the intellectual godfathers of President Obama’s health reform law.

 #neuroeconomy #neuropolicy

Source: www.nytimes.com

See on Scoop.itBounded Rationality and Beyond

Annunci
14
Nov
14

The Jonathan Gruber Controversy and Washington’s Dirty Little Secret

See on Scoop.itBounded Rationality and Beyond

It’s common for laws to be structured in ways that might not be very efficient but sound good for political consumption.

Suppose that Congress decides that everyone in America should have an iPhone. There are two ways it can do this:

1) The government could allocate money to buy all Americans iPhones.

2) The government could require that everybody buy an iPhone but create a tax credit equivalent to the price of the phone.

To an economist, these things are pretty much identical. To a politician, they are very different. The first is a big-spending government giveaway. The second is a tax cut. And in that distinction lies the heart of the firestorm around comments by one of the intellectual godfathers of President Obama’s health reform law.

 #neuroeconomy #neuropolicy
See on nytimes.com




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