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Noahpinion: I get what you get in ten years, in two days
"The usual economist case for income redistribution is based on utilitarianism; the idea is that $1000 matters more to a poor person than to a rich person. Mankiw wants to ditch this idea in favor of a value system based on 'just deserts':
...
"In 10 years, Mike gets $250,000. That is about what Brad gets in three days (not two; sorry, Chris Brown).
...
"'OK,' Mike says. 'But why, then, is Brad CEO so much more produtive than I am? Where does his $30 million productivity come from?' ... 'So let me get this straight,' Mike says. 'Brad deserves to be so much richer than me because of ability he was born with? People who are lucky enough to be born with high skills deserve to be able to get a Civic in half a day, while people who were born with fewer skills deserve to have to slave away for years if they want a Civic?'
"Anyway, Dr. Mankiw's answer is not forthcoming, and Mike cannot leave a comment on Mankiw's blog, due to the no-comments policy. So our story continues."
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march 2017 by cluebucket
Noahpinion: Freedom of speech in the digital age
via metafilter

"...we recognized that speech that disseminates ideas is more valuable than speech whose purpose is to intimidate others."
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october 2016 by cluebucket

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