Posts Tagged With: Personal

Class Debate – Drug Legalization

"Ladies and gentlemen, legalization of hard drugs like cocaine and heroin may at first glance feel uncomfortable. It may seem like a dangerous and unsafe policy. The affirmation today will show that the opposite is the case: banning these drugs is the unsafe policy. Because the drug market is illegal, we cannot control or regulate who plays and by what rules. Legalization of hard drugs will eliminate the obscene profits organized crime rackets make from importing and selling cocaine and heroin. It will rid our streets of much of the drug-related crime that plagues our impoverished neighborhoods. Furthermore, it will help reduce budget deficits and prison overcrowding. The affirmation would like to legalize possession of recreational amounts of Schedule Two drugs like cocaine, heroin, and LSD. To keep corporations and their greed for profits away from these addictive substances, government will Purchase, Regulate, Tax, and Distribute these drugs, similar to the way medical marijuana is distributed now. No drugs will be sold to pregnant women or to persons under 21 years of age. Our current policy is to ban these drugs and imprison anyone who sells or uses them. This War on Drugs, despite costing the taxpayer nearly $40 billion a year, has had a negligible effect on consumption and sale of hard drugs. Our inner cities are full of people selling and using these substances. It is time for government to wake up. Thank you.” Ladies and gentlemen, the Prohibition era of American history was expected to reduce crime and corruption, reduce the number of alcoholics, reduce the number of prisons and poorhouses, and improve health and safety. When Congress banned the sale of alcohol, evangelist Billy Sunday gathered ten thousand people together and proclaimed, "The reign of tears is over. The slums will soon be only a memory. We will turn our prisons into factories and our jails into storehouses and comcribs. Men will walk upright now, women will smile, and the children will laugh. Hell will be forever for rent." Unfortunately, Prohibition increased consumption of alcohol, marked the beginning of organized crime, pushed prison systems past their capacities, and deprived the government of a source of revenue. These problems did not go away with the end of Prohibition; they are still here, because of our bans on various other drugs. Addicts commit half of all street crimes today. The Mafia and other organized crime rackets make huge sums from importing and selling cocaine and heroin to addicts. Turf wars erupt over profitable street corners. We ignore, imprison, and impoverish addicts, the people that need our help the most. Legalization would eliminate turf wars and the incentive for crime bosses to import drugs. Government regulation and taxation would make consumption safer for users - remember 35% of new AIDS cases come from illegal drugs. What's more, we could spend the $40 billion we're now spending in a drug war on antipoverty and rehabilitation measures. Yes, legalization might increase the number of addicts, but this is not a clear cut conclusion. And if adults want to become addicts, we don't have the right to stop them. As Milton Friedman said, "Reason with the potential addict, yes. Tell him the consequences, yes. Pray for and with him, yes. But we have no right to use force, directly or indirectly, to prevent a fellow man from committing suicide, let alone from drinking alcohol or taking drugs." Our attempts to plan society in the 1920's had miserable consequences, and our attempts now have been about as successful as the Soviet Union. While legalization may be uncomfortable to some, it creates a better situation for the addict, and makes society better off. It is by far the best policy option. Thank you for your time.

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Pigou Club in the Economist

Petrol taxes Pigou or NoPigou? Nov 9th 2006 From The Economist print edition An old debate gets a makeover in cyberspace ARTHUR PIGOU, an early-20th-century British economist, might well have shuddered at the thought of Facebook.com, a student networking site. A hermetic academic, awkward in the company of women, he surely would have balked at the dating and the picture uploads. But what would he have made of the “Pigou Club”, which has surfaced on Facebook and is giving him unprecedented—even cultish—exposure? His appearance on the internet is down to a contemporary economist clearly at home in cyberspace: Greg Mankiw of Harvard University. For months, Mr Mankiw, a former adviser to George Bush, has been blogging away in support of “Pigovian taxes” on petrol, believing that a levy of $1 a gallon would not only bring America $100 billion of extra revenue but might also reduce global warming. With his Pigou Club Mr Mankiw has whipped up a following behind an economist whose theories on unemployment came under attack from his colleague, John Maynard Keynes. On Facebook, 600 people have signed up to the Pigou Club. Mostly students, they join other Pigovians such as Larry Summers, Gary Becker, and Kenneth Rogoff. Pigou advocated taxation as a way to combat the negative externalities, or side-effects, associated with certain activities. These have been used to justify levies on cigarettes, alcohol and even traffic congestion. Their advocates argue that they could be used to wean Americans off their dependence on petrol, which degrades the environment, props up unsavoury regimes and clogs traffic. But governments are not perfect arbiters, say opponents of the Pigou Club. In the spirit of Ronald Coase, an intellectual nemesis of Pigou, a NoPigou club has taken shape on the internet, with its own Facebook following (though with only 59 supporters so far). Coase claimed that a Pigovian tax would penalise producers and consumers and might have other undesireable side-effects. People should be able to negotiate among themselves when there are side-effects, he said. Terence Corcoran, editor of Canada's Financial Post, writes a NoPigou blog, arguing that such taxes are blunt instruments and governments have insufficient information about them to wield them properly. Pigou did indeed accept that point, albeit rather late in life, so it is unclear how he would have felt about petrol and global warming. One thing, however, is certain: the reclusive outdoorsman would have found the effects of internet fame decidedly taxing.

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What I Want in a Phone

I've had my old, simple phone for two-plus years now, and Verizon's telling me I need a new one. Fair enough. I started looking at phones and realized that Verizon is focusing its product specs in all the wrong areas. I don't care how nice the camera is, or how many MBs of music it can play, or what things I can buy online for it. These are the things I want to know about a phone: Can I put it on silent mode without it making a sound? How many button presses to turn on/off the ringer? How many button presses to send a text message? How many button presses to look up someone in the phone book? How big are the buttons? How big is the screen? If I try to make a call will I have service? (To its credit, Verizon usually has a signal) How navigable is the menu? How many recent calls will it store? Motorola, Nokia, Samsung, LG, and whoever else makes phones, this is the Apple approach. Design phones with the user in mind and you'll reap the benefits. Maybe not immediate fiscal benefits, but rewards in terms of user loyalty.

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Vacation Reading

Vacation reading for me is work for 99% of the population. The Wages of Wins, by Berri, Schmidt, and Brook Profiles in Courage, by John F. Kennedy The Undercover Economist, by Tim Harford (Econ 1 for non-academics) Capitalism & Freedom, by Milton Friedman. Rest in peace. Wages of Wins was particularly eye-opening. Three economists took a look at what determined player pay in the NBA, and figured out that salary was mainly based on player pay, not any measure of efficiency or how much that player contributed to team wins. Essentially, there's a lot more to the game than simply scoring points - if you score 50 points but take 70 shots and turn the ball over 20 times, you are not helping your team. The economists took a look at the NBA and figured out a formula for how many wins each player on a team produced. It was a really interesting book. Basically the NBA is due for a Money-ball like revolution, but it hasn't happened yet.

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This is Too Funny

[youtube=http://www.youtube.com/watch?v=SlTvSUCCqPo] This video is hilarious. The green A's jacket is priceless. Keep the A's in Oakland, please. Don't make these guys ghostride their Volvo any more than they have to. It's a shame teams couldn't care less about its fans, who they know will always show up. The A's fans are just gonna turn into the Giants fans, showing up late, sitting in corporate boxes, and then leaving in the 8th inning of a one-run game. Full disclosure: I scored on Nate's brother (the guy in the black shirt) in a soccer game to win a PK shootout that won my team the league championship. Both Nate and his brother go to Harvard.

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Election Endorsements/Predictions

I expect that the Republicans are going to do better than they're polling right now. As stupid as it sounds, they still have the 'trust' factor going for them over Democrats. Furthermore, many people may tend to say that the problem resides not with my Republican representative but with others. I'll predict that the Democrats will hold an extremely narrow margin in the House, and Republicans will hold the Senate. I'm excited, because I turned 18 Sunday, allowing me to vote for the first time. I'm unsure whether to vote for Santorum or Casey. I will vote for Rendell for governor over Lynn Swann. I don't know who my state senate candidates are and may abstain from that vote. There are two City Charter amendments on tomorrow's ballot - the first one would give hiring preference to children of policemen and firefighters who died in the line of duty. This is a feel-good ballot issue, but I am going to vote no, because this means we'd be turning down someone with better credentials. Furthermore this would only create more bureaucracy and requirements for businesses to fulfill. The second measure would call for a citywide study of contracting practices, which I don't know much about, but I'll trust the Inquirer and vote no. The other measure is a statewide proposition to borrow to give bonuses to veterans of the First Gulf War. I'm going to vote no, because money spent to do this cannot be spent for other (in my opinion better) uses, such as funding Pennsylvania schools.

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On Experiential Learning

Last week I wrote Greg Mankiw and Tyler Cowen, two professors and economics bloggers. I wrote the following:
My name is Kevin Burke and I'm a freshman at the University of Pennsylvania, about to start Econ 001. I know it's important to get an academic background in economics, but I think some of the best learning I've done in most fields has come outside of the classroom. I was wondering if you could tell me about some of the key moments in your intellectual development as an economist, and where these moments took place. My goal here is to figure out how I can supplement my Econ education with real-world schooling. Thanks for reading this.
Because honestly, how often do you learn something because someone just tells it to you? Most people need to see examples, or get out and learn something for themselves (as in, don't touch the stove while it's on, don't touch the stove while it's on, okay, you touched the stove, and you got burned). I got responses in the form of two excellent blog posts. It was really cool to have them write back, and they wrote really useful advice. If you're considering economics, I would recommend you take a look at their lists. I was going to take a year off before school to get some practical experience in the field, and then I got accepted off the waitlist at Penn. I might still end up taking a year off sometime. Life, as some people need reminding, is not a race. And there's no proof that a college education is the best education I can get at this point in my life. There may be more enjoyable (and cheaper) exploits elsewhere.

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Kill your Facebook Mini-Feed

If you're like everyone else I've talked to today, you think that the Facebook mini-feed is an invasion of privacy and a great tool for stalkers. Plus, you probably don't want people seeing what you do on Facebook 24/7. Facebook makes the argument that the info was all public anyway, but it would take a really dedicated stalker to dig it all out. This makes it much simpler for people to see what you're up to on the site. If someone followed around the CEO of Facebook and posted all their happenings to one place on the internet (left home without a kiss, bought a certain kind of coffee for $3.29, talked to certain people, or whatever), we'd see if they still agreed with the idea of the Mini-Feed. Facebook's arguing that all the information there in your Mini-Feed is public, which is true, but they greatly lowered the cost of retrieving that information by displaying it prominently on the profile page. Here's how to erase all your Mini-Feed data: 1) Download Greasemonkey for Mozilla Firefox. Greasemonkey allows you to run scripts on web pages and customize them however you feel like. Once you install the extension it will show up as a little monkey in the bottom right corner of the browser. 2)Userscripts.org has a list of scripts, and many of them are useful, such as the ones that take ads out of Myspace and add other search results to Google. Once you're at the website, search for and install Facebook Mini-Feed Killer. Then go to your Facebook profile, and observe the wonderful results! Once you're done, the only difference you'll notice is that a little monkey shows up in the bottom corner of your Firefox browser, and none of your mini-feed stories show up. Just remember to visit your profile page when you're done browsing Facebook and it will automatically delete every action you've taken from your feed.

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