Monday, May 07, 2018

Ten things data have taught me about the world.

(1) Tax cuts do not magically create growth; 

(2) Vaccines are among the best things we have ever invented; 

(3) raising the minimum wage to a point improves living standards for low wage workers (and that point may be somewhere between $11 and $15 per hour), beyond that point, it lowers living standards for low wage workers; 

(4) GMOs are fine; 

(5) the benefits of the Clean Air Act swamp the costs by an order of magnitude or more; 

(6) the mortgage interest deduction has a vanishingly small impact on the homeownership rate; 

(7) trade has raised living standards for hundreds of millions around the world; 

(8) trade has reduced living standards for low skilled workers in the US; 

(9) rent control reduces the stock of rental housing; 

(10) even though I like Lebron better than Jordan, MJ was the better player.

No comments: