Comments on: Moral Hazard http://susiemadrak.com/2008/03/31/13/07/moral-hazard/ Keeping a jaundiced eye on the corporate media. Sun, 06 Jul 2008 22:10:29 +0000 http://wordpress.org/?v=2.5.1 By: Foraker http://susiemadrak.com/2008/03/31/13/07/moral-hazard/#comment-139791 Foraker Tue, 01 Apr 2008 14:36:59 +0000 http://susiemadrak.com/2008/03/31/13/07/moral-hazard/#comment-139791 Perhaps instead of "unemployed" we should be looking at the number of employed. After all, the employed should be paying taxes and therefore should be pretty easy to track. Proving the negative generally is impossible. Ask Iran how they will prove that they are not seeking nuclear weapons, or Iraq how they could have proven that they did not have chemical weapons. If someone asks you to prove the negative, you can assume that they don't really want you to do so and won't believe you if you try. Perhaps instead of “unemployed” we should be looking at the number of employed. After all, the employed should be paying taxes and therefore should be pretty easy to track. Proving the negative generally is impossible.

Ask Iran how they will prove that they are not seeking nuclear weapons, or Iraq how they could have proven that they did not have chemical weapons. If someone asks you to prove the negative, you can assume that they don’t really want you to do so and won’t believe you if you try.

]]> By: PR http://susiemadrak.com/2008/03/31/13/07/moral-hazard/#comment-139768 PR Mon, 31 Mar 2008 21:09:48 +0000 http://susiemadrak.com/2008/03/31/13/07/moral-hazard/#comment-139768 I believe Ian Welsh has estimated 12% now at least. Great Depression about 25%. I believe Ian Welsh has estimated 12% now at least. Great Depression about 25%.

]]> By: k http://susiemadrak.com/2008/03/31/13/07/moral-hazard/#comment-139767 k Mon, 31 Mar 2008 21:01:04 +0000 http://susiemadrak.com/2008/03/31/13/07/moral-hazard/#comment-139767 How did they figure unemployment during the Depression? Did they have unemployment insurance then? I think I'll spend some quality time with my friend Google. How did they figure unemployment during the Depression? Did they have unemployment insurance then?
I think I’ll spend some quality time with my friend Google.

]]> By: Michael Bloom http://susiemadrak.com/2008/03/31/13/07/moral-hazard/#comment-139764 Michael Bloom Mon, 31 Mar 2008 20:17:45 +0000 http://susiemadrak.com/2008/03/31/13/07/moral-hazard/#comment-139764 You got it backwards: if only 40% are eligible, that means 60% aren't. And that means the real job loss rate is two and a half times as large as they say it is. Of course, they've been tweaking this number for ages. I think it was during the Nixon administration when they changed the calculation by factoring in the armed forces, making the rate look lower than it really was during the "stagflation" years. And you know the part about how, if you decide it's no longer worth your while to try looking for work, they don't count you as unemployed? You got it backwards: if only 40% are eligible, that means 60% aren’t. And that means the real job loss rate is two and a half times as large as they say it is.

Of course, they’ve been tweaking this number for ages. I think it was during the Nixon administration when they changed the calculation by factoring in the armed forces, making the rate look lower than it really was during the “stagflation” years. And you know the part about how, if you decide it’s no longer worth your while to try looking for work, they don’t count you as unemployed?

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