Free Market
Posted at 10:29pm on Dec. 30, 2007 In Praise Of Mickey D's
By Pejman Yousefzadeh
George Will's commentary on McDonald's is as economically and sociologically fascinating as it is gastronomically interesting. I used to consider McDonald's fare a guilty pleasure. Nowadays, I still consider it a pleasure, only without the guilt. Read the whole thing.
(Thank to Don Boudreaux for the link.)
Posted at 9:16pm on Dec. 19, 2007 The Free Market Is A Wonderful Instrument
By Pejman Yousefzadeh
Behold. Serious environmentalists--and the word "serious" is not emphasized by accident--might want to take note. I'm sure that anyone genuinely interested in saving the planet will greet the news that the free market is their most powerful ally with glee and happiness and will apply the lessons the linked post discusses in the blink of an eyelash.
Right?
Ah well, certain political decisions notwithstanding, it's still a good idea.
Posted in Energy | Energy Policy | Free Market — Comments (1)/ Email this page » / Read More »
Posted at 5:39pm on Dec. 13, 2007 Medical Innovation and the Free Market
By Jeff Emanuel
(Despite the fact that so many seem to think that it requires Governmental action)
The increasing use of Computed Tomography (or “CT”) scans in today’s hospitals has prompted health professionals to take a closer look at the potential effects of the radiation from those scans, and to consider how patient radiation exposure during the procedure can be minimized.
Earlier this month, a group called RCG Health Care Consulting, led by Dr. Giles Boland, Vice Chairman of the Department of Radiology at Massachusetts General Hospital (MGH), announced that it had established a series of CT practices and protocols which would allow radiologists to reduce radiation exposure while still being able to obtain diagnostic-quality images from their CT scans.
Read on.
Posted in Economy | Free Market | Medicine — Comments (3) / Email this page » / Read More »
Posted at 1:06am on Dec. 13, 2007 Farm Policy Fights Depress Free Marketeers
By Pejman Yousefzadeh
See here and here for details. Farm policy discussions increasingly resemble common sense-free zones and the resulting policy decisions reflect as much. It's gotten to the point that whenever I see the words "farm/agricultural policy" or "farm/agricultural subsidies," I know enough to inwardly groan. There is no good news to be had on this front, apparently.
Posted at 7:49pm on Nov. 23, 2007 Implementing Free Market Reforms In Europe
By Pejman Yousefzadeh
The governments of Italy, Germany, France and the UK are struggling to reform their economies, but little is happening. Is it impossible to launch substantial reforms in these countries? Do countries need an economic crisis to change? Or can only small countries do it? Are Romano Prodi, Angela Merkel, Nicolas Sarkozy and Gordon Brown stuck in a maze of reform obstacles?
Evidence from at least a dozen reformist countries of the Organisation for Economic Co-Operation and Development suggests not. Those that reformed substantially have had remarkable results. Ireland doubled incomes in a decade after dramatic reductions in the corporate tax rate; Spain integrated millions of immigrants into its labour market after deregulation; Sweden improved schools by allowing choice; New Zealand achieved full employment by labour market deregulation; Icelandic banks are all over Europe after privatisation and 16 countries introduced flat tax.
Several of these countries have brought about change in good economic times, such as Australia, Sweden and Ireland. Crisis is not a prerequisite for reform. Bigger countries such as Spain and the US have reformed while some small ones have not. The four big European countries could definitely reform during this positive business cycle - in fact, it is an opportunity.
Success results from determination, political substance and strategy. Jean-Claude Juncker, former prime minister of Luxembourg, has said: "We all know what to do, but we don't know how to get re-elected once we have done it." Reforms are seen as politically difficult. In fact, nearly all reformist governments in the OECD have been re-elected at least once.
It's nice to see that doing the politically courageous thing can reap politically attractive benefits. It is also nice to see that the article takes the time to point out the following:
Political hesitation is underpinned by several myths. One is that free market reforms have socially adverse consequences. This is not true. In the countries that have reformed the most, the groups that benefited the most were usually low-income earners and the unemployed. They got jobs and higher incomes.
There may be plenty of rationales offered to explain why free market reforms are not pursued more ardently. But there are very few--if any--actual acceptable excuses for the relative lack of reform that has been pursued in Europe.
Posted in Capitalism | Europe | Foreign Affairs | Free Market — Comments (2)/ Email this page » / Read More »
