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.

1 comment:

Steve Malpezzi said...

Agree with 9 out of 10. Well, actually I guess I'm simply augmenting number 10. LeBron versus Jordan is always an interesting conversation. But what does data tell us about the basketball world? That somebody averaged 30 points and 23 rebounds per game over a 14 year career; who once played every minute of a season except for 10 minutes after being ejected from a game. And who once took down 55 rebounds in a single game. A playoff game. Against Bill Russell.

Also, this person holds the record for most points every scored in the Hershey Sports Arena. Which was mostly used by the Hershey Bears hockey team I followed in my childhood.