At Fukushima, we’re watching the consequences of extensive government action coupled with unresolved technological problems. The WSJ reports that the Fukushima disaster plans greatly underestimate the scope of a potential accident yet are consistent with the principles set forth by the International Atomic Energy Agency…
It is easy to say, as many are saying, that more comprehensive safety plans should be made and greater precautions taken against all possible threats. But there is a reason why this was not done and regulators did not push for it. It would make an already high-cost energy source even more prohibitively expensive. Who is going to pay for all that? Can you feel yet another hand in your taxpayer’s pocket?
At the time the Titanic went down, airplanes were already displacing long-distance sea transport, which disappeared in the following decades. But nowadays there are numerous cruise ships, in effect floating resorts. They haven’t had problems with icebergs and they pay their way. That’s how markets work. Millions of people take cruises at acceptable prices and levels of safety.
• Este ajutorul de șomaj necesar?
Potrivit unora, ajutorul de șomaj ajută la alocarea eficientă a forței de muncă, deoarece dă timp oamenilor să se gândească de două ori înainte să se angajeze, evitând astfel comiterea de erori (angajarea pe un post pentru care nu dețin de fapt calificarea potrivită). Dar se pare că lucrurile nu stau așa la proba empirică, cel puțin nu în Japonia. Deci ajutorul de șomaj împiedică economia să funcționeze eficient.
Okay, I am impressed and far less skeptical of the Great Stagnation theory. In my previous post I argued that Cowen failed to appreciate how dramatically our lives have changed since the advent of the internet and faster computing. Now I am thinking these gains are but a faint shadow of what they could have been had TFP continued to grow at its 1947-1973 trend. The “good old days” really were better in terms of TFP growth.