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More retirees, longer life expectancy, larger benefits, and fewer workers - these trends have meant substantial increases in the payroll tax. Since the social security program began, the payroll tax has increased more than 500 percent.
Alex Tabarrok
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Alex Tabarrok
Age: 58
Born: 1966
Born: January 1
Economist
Islamic Republic of Iran
Alexander Taghi Tabarrok
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More quotes by Alex Tabarrok
Going to college is neither necessary nor sufficient to be well-educated.
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Michael Moore didn't have to worry that anyone would misinterpret the title of his film, 'Capitalism: A Love Story,' because in Hollywood, no one loves capitalism. That's too bad, because Hollywood is one of capitalism's greatest successes.
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The first thing you learn when you're blogging is that people are one click away from leaving you. So you've got to get to the point, you can't waste people's time, you've got to give them some value for their limited attention span.
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What we tell students in formal schooling: “Sit down, stay quiet, and absorb. Do this for 12 to 16 years and all will be well.
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If China and India were as rich as the United States is today, the market for cancer drugs would be eight times larger than it is now.
Alex Tabarrok
College has been oversold. It has been oversold to students who end up dropping out or graduating with degrees that don't help them very much in the job market. It also has been oversold to the taxpayers, who foot the bill for subsidies that do nothing to encourage innovation and economic growth.
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I utterly reject the view that the Third World is doomed to poverty and starvation. Not only is this wrong, I think this attitude verges on the immoral, like thinking that slavery is an unalterable facet of the human condition so why bother doing anything about it?
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The only way to thrive is to innovate. It's that simple.
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A lot of people say that India has been held back by its democracy. But lets remember that, despite being a poor country, Indias democracy meant that its government never let millions of people starve.
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Patents are like fertilizer. Applied wisely and sparingly, they can increase growth. But if you apply too many chemicals, or make patents too strong, then you can leach the land, making growth more difficult.
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Conservatives have long argued, correctly, that 'fine-tuning' the economy is a chimera, but that argument seems to have disappeared from the conservative handbook.
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America has the highest standard of living of any major country in the entire world. To maintain and enhance that standard of living, America should continue to embrace those qualities which have made America great: openness and dynamism. Openness to new technologies, new ideas and new people is America's greatest source of strength.
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Capitalists work hard to produce what consumers want. Artists who work too hard to produce what consumers want are often accused of selling out. Thus, even the languages of capitalism and art conflict: a firm that has 'sold out' has succeeded, but an artist that has 'sold out' has failed.
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As far as wages are concerned, the only difference between immigration and birth is that birth takes longer.
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It seems to me that the price of eternal vigilance is liberty.
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It would be really great if I discovered a cure for cancer, but it would only be a little bit less great if my neighbor did. So I am pretty happy when my neighbor becomes wealthier, better educated and more innovative. I feel the same about China and India.
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Our obsessive focus on college schooling has blinded us to basic truths. College is a place, not a magic formula. It matters what subjects students study, and subsidies should focus on the subjects that matter the most - not to the students, but to everyone else.
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A bet is a tax on bullshit and it is a just tax, tribute paid by the bullshitters to those with genuine knowledge.
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Education is the key to the future: You've heard it a million times, and it's not wrong. Educated people have higher wages and lower unemployment rates, and better-educated countries grow faster and innovate more than other countries. But going to college is not enough. You also have to study the right subjects.
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Writing on the blog, you want to get attention and make strong claims. In academic work, that often doesn't pay, so sometimes it's a little bit difficult going back and forth to navigate these differences.
Alex Tabarrok
