Effects of the Affordable Care Act on Economic Productivity

CASEY MULLIGAN, a professor of economics at the University of Chicago, received his Ph.D. in economics from the University of Chicago in 1993. He has been a visiting professor at Harvard University and Clemson University, and is affiliated with the National Bureau of Economic Research, the George J. Stigler Center for the Study of the Economy and the State, and the Population Research Center. He has written for the Chicago Tribune, the Chicago Sun-Times, the New York Times, and the Wall Street Journal, and is the author of three books, including Side Effects: The Economic Consequences of the Health Reform.

The following is adapted from a speech by Casey Mulligan delivered on October 24, 2014, at a Hillsdale College Free Market Forum in Indianapolis, Indiana.

The topic of my talk today is the economic side effects of the Affordable Care Act (ACA), sometimes referred to as Obamacare. Since most of the economy has to do with labor and work, that’s where I’ll start. But, first a caveat. I’m an economist, and I’m going to talk about some parts of this complex law that have an impact on the labor market. Other parts of it relate to health and medicine, and because I’m not a doctor or a biologist, I’m not going to speak to those parts. From an economic or labor-market perspective, I’m going to explain how the costs of the ACA outweigh its benefits. But I can’t measure or estimate its effects on health care. I leave that to others.

Daniel Hannan: What Does It Mean to Be Conservative?

From The Telegraph

By Daniel Hannan

The cleverest living Englishman

Some years ago, while canvassing for his wife in a local election in Wiltshire, Roger Scruton was asked on the doorstep, “What is conservatism, anyway?” The voter had unwittingly put the question to the man who, more than any other, has defined what conservatism is; the man who has as good a claim as any to be the cleverest living Englishman.

If he were on the Left, Roger Scruton would be recognised as one of our towering public intellectuals; but it’s a peculiarity of our age that conservative thinkers occupy a space beyond the mental horizons of most commissioning editors. There will always be Rightist columnists of the Richard Littlejohn variety, I’m delighted to say; but a Rightist professor whose writings range from German philosophy to the oddities of common law, from religious art to country sports, is likely to be regarded as an eccentric class traitor.

Still, Roger will be read and remembered when many of the prominent literary figures of our day are footnotes – partly for the keenness of his intelligence and partly for the consistency of his vision, but mainly for the grandeur of his prose. He can ennoble almost any subject – economics, cooking, telephone boxes – by his gentle logic and his courteous insistence on treating readers as his intellectual equals.

Pope Francis Doesn't Really Understand This Economics Thing, Does He?

From Forbes

By Tim Worstall

Pope Francis has told us all that we’re really very naughty indeed to allow food to become a product like any other, a product in which people can speculate and profit. Which leads to a rather sad observation about Il Papa‘s understanding of basic economics: he doesn’t, essentially, he doesn’t understand basic economics. It is indeed an outrage that there are still 800 million or more of our fellow human beings who are malnourished. Appalling that while the world grows the calories to feed all not all get fed. But once we’ve noted those points, decided (as we damn well should) to do something about them, the interesting question becomes, well, what? At which point we might note that it’s the places with well functioning markets, subject to all that horrible speculation and profit making, that have the people who are not malnourished and not starving. Something Pope Francis might have considered before he said this: 

The Solemnity of Our Lord Jesus Christ, King of the Universe

Saint Mary's Cathederal Choir - "Hail Redeemer King Divine"

Wayne Allyn Root: Obama Appears to Hate Everyone

Pat Buchanan: Rogue President

By Patrick J. Buchanan

Asserting a legal and constitutional authority he himself said he did not have, President Obama is going rogue, issuing an executive amnesty to 4 to 5 million illegal aliens.

He will order the U.S. government not to enforce the law against these 5 million, and declare that they are to be exempt from deportation and granted green cards.

Where did Obama get his 4-5 million figure, not 2-4 million, or 5-7 million? Nowhere in law, but plucked out of his own mind, as to what he can get away with. Barack Obama just felt it was about right.

Thus does our constitutional law professor-president “faithfully execute” the laws of the United States he has twice swore to uphold?

Schlafly: Obama Could Launch Another Civil War

 “I think he lies about everything”

President Obama’s looming executive action on immigration reform represents a Fort Sumter-type moment, according to conservative icon Phyllis Schlafly.

Schlafly at first considered comparing the Obama amnesty to the Japanese attack on Pearl Harbor but decided that Obama’s plan is much more subtle.

“With Pearl Harbor, the American people knew what was happening,” she said.

But Fort Sumter, where the opening shots of the Civil War were fired, represented the beginning of a ruinous conflict, and Schlafly, like fellow conservative luminary Richard Viguerie, speculates that an executive amnesty might touch off a sort of modern-day conflagration.

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