tag:blogger.com,1999:blog-5675321287029568423.post2975245009571451862..comments2023-11-27T04:50:53.796-07:00Comments on Narj: MacroMarkhttp://www.blogger.com/profile/02749591528183545498noreply@blogger.comBlogger2125tag:blogger.com,1999:blog-5675321287029568423.post-27541820270201927802011-05-21T06:09:24.605-06:002011-05-21T06:09:24.605-06:00Here's a quick note on tax policy, and some re...Here's a quick note on tax policy, and some reasoning about its consequences.Markhttps://www.blogger.com/profile/02749591528183545498noreply@blogger.comtag:blogger.com,1999:blog-5675321287029568423.post-15720575529540599502011-05-21T06:05:18.762-06:002011-05-21T06:05:18.762-06:00*The titanium in my bike is creating value: happin...*The titanium in my bike is creating value: happiness. Ditto a pencil or a potato. The titanium in a bomber is used only to destroy value. When it blows up somebody's bridge, their labor is lost. There's a term I forget that economists use to describe that ugly sweater from aunt Wanda that you stick in the back of the closet forever: the knitting, wool, shipping costs are all lost, like a sunken freighter or an island of misfit toys. Christmas is a tax on the economy. (I heard a show where economists were crying the blues at Christmas, lamenting all the lost work.) Now I know there are times you need the military but it's equally obvious that if we didn't, we could make bridges instead, and somebody else's bridges would stand, so those are taxes on an otherwise ideal economyMarkhttps://www.blogger.com/profile/02749591528183545498noreply@blogger.com