tag:blogger.com,1999:blog-7658874470833994309.post5317264709717841791..comments2023-10-20T10:46:21.208+01:00Comments on Knowing and Making: Incentives, belief in incentives, the left, the right and moral hazardLeigh Caldwellhttp://www.blogger.com/profile/16150868700502562500noreply@blogger.comBlogger11125tag:blogger.com,1999:blog-7658874470833994309.post-43941929064358749102011-07-02T00:06:38.544+01:002011-07-02T00:06:38.544+01:00you are invited to follow my blogyou are invited to follow my blogSteve Finnellhttps://www.blogger.com/profile/15041851737677873347noreply@blogger.comtag:blogger.com,1999:blog-7658874470833994309.post-32531296568995614512011-06-27T09:29:22.463+01:002011-06-27T09:29:22.463+01:00article that you fit quite interesting to read &am...article that you fit quite interesting to read & give another value to meKakahttp://www.streetdirectory.co.id/businessfinder/indonesia/company/3202/Jasa_Boga/noreply@blogger.comtag:blogger.com,1999:blog-7658874470833994309.post-41583195933144744262011-06-15T21:00:58.497+01:002011-06-15T21:00:58.497+01:00I guess that many would say that I am rich. I was ...I guess that many would say that I am rich. I was a council house kid and an 11+ failure. I left school in 1955 with one 'O' level (maths which the headmaster said I didn't deserve).<br /><br />I then did one year Telecomms - should have been 3 evenings/week but excused maths with 'O' level - failed 'cos I forgot to turn up for the maths exam.<br /><br />Then did 5 years Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-7658874470833994309.post-64523349196172628362011-06-15T19:09:25.929+01:002011-06-15T19:09:25.929+01:00And I think there is a major difference in the Yes...And I think there is a major difference in the Yes/No camp here. The Yes pretty much do it using other people's money.<br />StevenAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-7658874470833994309.post-86483696326985446142011-06-15T19:04:03.503+01:002011-06-15T19:04:03.503+01:00The Greek bonds are a perfect example of Moral Haz...The Greek bonds are a perfect example of Moral Hazard. They were priced way below their level of risk and any idiot who bought them needs a good haircut. The Germans are out of their minds trying to stop a Greek default and are risking way more damage to their own tax payers by bailing out a boat that is sitting on the bottom of the river bed. Risk has a price. This mess we are digging out of isnormhttps://www.blogger.com/profile/04651902762232427335noreply@blogger.comtag:blogger.com,1999:blog-7658874470833994309.post-83320647698451741532011-06-15T00:36:12.715+01:002011-06-15T00:36:12.715+01:00Reading this post and PunditusMaximus' comment...Reading this post and PunditusMaximus' comments, I thought of these two articles I recently read (among other things):<br /><br /><a href="http://www.latimes.com/news/obituaries/la-sci-politics10sep10,0,2687256.story" rel="nofollow">Study finds left-wing brain, right-wing brain</a><br /><br /><a href="http://www.rawstory.com/rs/2010/12/28/conservatives-fear-center-brain/" rel="nofollow">StudyNicki Easyhttps://www.blogger.com/profile/04164807743012593883noreply@blogger.comtag:blogger.com,1999:blog-7658874470833994309.post-22061158589696254902011-06-14T19:28:43.742+01:002011-06-14T19:28:43.742+01:00yes, I agree with those points (pretty much). Mayb...yes, I agree with those points (pretty much). Maybe my point is a bit narrower than I originally thought: it is simply about differing belief in the strength of moral hazard effects.Leigh Caldwellhttps://www.blogger.com/profile/16150868700502562500noreply@blogger.comtag:blogger.com,1999:blog-7658874470833994309.post-13480250465826755232011-06-14T17:56:29.842+01:002011-06-14T17:56:29.842+01:00Amusingly, this dichotomy seems to be reversed wit...Amusingly, this dichotomy seems to be reversed with regard to the wealthy and powerful -- liberals tend to view them as the folks who need the most oversight, while conservatives view them as the people who need the least. But, again, both are thinking of now and in the future.PunditusMaximushttps://www.blogger.com/profile/09249723289837838687noreply@blogger.comtag:blogger.com,1999:blog-7658874470833994309.post-11580207790338539862011-06-14T17:55:31.310+01:002011-06-14T17:55:31.310+01:00I definitely agree that people think differently a...I definitely agree that people think differently about incentives, but I don't think it's a now/later thing.<br /><br />In general, liberals believe that the vast majority of ordinary people can be fairly easily coaxed to do more or less the right thing, and conservatives believe that they can really only be punished into it.<br /><br />So liberals believe in no-fault divorce, because PunditusMaximushttps://www.blogger.com/profile/09249723289837838687noreply@blogger.comtag:blogger.com,1999:blog-7658874470833994309.post-73800176892974037142011-06-14T17:29:33.659+01:002011-06-14T17:29:33.659+01:00Thanks for the comment.
I didn't mean to impl...Thanks for the comment.<br /><br />I didn't mean to imply "conservatives are grownups, liberals are not". The distinction isn't just between whether we act purely for now, or for later. It's specifically a difference in how people think about shaping future <i>incentives</i>.<br /><br />Indeed, the yes/no distinctions I've picked are not clear-cut divisions between left Leigh Caldwellhttps://www.blogger.com/profile/16150868700502562500noreply@blogger.comtag:blogger.com,1999:blog-7658874470833994309.post-68167067026337105862011-06-14T16:31:40.389+01:002011-06-14T16:31:40.389+01:00This seems something of a forced dichotomy; it see...This seems something of a forced dichotomy; it seems like you're leaving out some of the arguments for each side to create your desired result.<br /><br />The "yes" argument for taxing the rich includes the idea that increasing inequality is bad for decisionmaking in the long-term. The "no" argument for taxing the rich includes the idea that the wealthy are the primary PunditusMaximushttps://www.blogger.com/profile/09249723289837838687noreply@blogger.com