Economic Tidbits

Hmmm . . .

“In much the same way, the uncoordinated actions of billions of people and firms each day (if you count multiple transactions by the same people, just in the United States alone) do a far better job than any central planner could . . . to ensure that just about everything that people want they can get, as long as they are willing to pay a market-clearing price.” Robert E. Litan, Trillion Dollar Economists: How Economists and Their Ideas Have Transformed Business, John Wiley & Sons, Inc., 2014

“The average US family health insurance premium increased from $5,790 in 1999 to $21,463 in 2022. That’s a 288% increase, or 6.4% per year, which is 2.5x higher than the overall rate of inflation (CPI) during this period.” Charlie Bilello@charliebilello, November 3, 2033.

“Obese workers in health care, for example, make 11% less than their slimmer colleagues; those in management roles make roughly 9% less, on average. In sectors such as construction and agriculture, meanwhile, obesity is actually associated with higher wages.” Workplace discrimination: Economies of scales, The Economist, November 25th, 2023.

“The truly virtuous man and real patriot is satisfied with the approbation of the wise and discerning; he rejoices in the contemplation of the purity of his intentions, and waits in the humble hope for the plaudit of his final judge.” Samuel Adams quoted in The Revolutionary: Samuel Adams, by Stacy Schiff, Little Brown and Company, 2022.

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