The Financial Value of DACA

This graph* shows the net value to society of a person as they age. Initially, a child costs money for food, health and education. During the working years, they generate more value than they consume. In retirement, living and health costs reduce their value, but at death, there is, on average a small net value, […]

Reconciling the Various Reasons for Trump

After the election, I concluded that Trump won with three appeals: Bring back jobs Drain the swamp Build the wall and that I approved of the first two. (It’s now clear that all three are unlikely to happen.) Many people have offered reasons why Trump won, and they fall into three areas: Election problems Economic […]

The Effect of Patents on Drug Prices

The NYT has a good article on how patents enable drug companies to keep prices high – far higher than in other countries. For example, with the patent for the older oral contraceptive Loestrin 24Fe about to expire, the company Warner Chilcott stopped making the pill this year and introduced a chewable version — with […]

How much money do you need to be rich?

A speaker from San Clemente was  quoted as saying “We are one of those people that make over $250,000 a year, and I don’t agree that that makes us rich.”  The median household income for California is $54,000; for San Clemente, $63,507.

Who makes investment choices?

Intersting column by Michael Kinsley claiming to prove that privatising Social Security won’t work. He makes a similar point to one that I have claimed several times, only to get blank stares: that whether a dollar of earnings is spent directly in the economy (beer, refridgerators, chip factories, …) or flows to the government and […]