economists

Saturday Ethics Spasms, 5/15/21: Are You Reading This? I Don’t Want To Know!

/ Jack Marshall / 15 Comments

Well, I’ve solved the annoying traffic problem on Ethics Alarms: I’m not checking the traffic any more. It doesn’t affect anything but my ego and enthusiasm. My ego is a lifetime problem, but my enthusiasm is important, and there’s no reason to deliberately upset myself. I kicked the traffic in the metaphorical solar plexus by being such a health-weenie the last couple of weeks, but I have to just focus on content, trying to maintain variety, and staying dedicated to the mission here. William Saroyan, with whom I have more in common than is good for me, liked to say that an artist has not lived in vain if one human being sings his song. I’ve always tried to act as if I believed him, and it’s high time that I really did.

1. President Biden and I agree on this, at least. The President put the kibosh on President Trump’s half-baked—maybe 25% baked—National Garden of America Heroes project. Good. I explained why this was bad history and a waste of time and money here.

In Trump’s defense, at least his worst ideas didn’t cost trillions of dollars…

2. Nah, there’s no mainstream media bias! Most media outlets are parroting this, from NASDAQ:

“Consumer sentiment in the U.S. has unexpectedly decreased in the month of May, according to preliminary data released by the University of Michigan on Friday.The report showed the consumer sentiment index dropped to 82.8 in May from 88.3 in April. The decrease surprised economists, who had expected the index to rise to 90.4.”Consumer confidence in early May tumbled due to higher inflation–the highest expected year-ahead inflation rate as well as the highest long term inflation rate in the past decade,” said Surveys of Consumers chief economist Richard Curtin.”

Unexpectedly? After the new administration has behaved as if the national debt was in Monopoly money,the Left slow-walking the opening up of the economy when it should never have been shut down, and the enthusiastic socialists who write the checks paying Americans not to work? Are economists that stupid, or do they just think the public is that stupid?

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Ethics Rant: Here Is The Smoking Gun Proof That The Government Doesn’t Care How Much Money It Wastes, Or, In The Alternative, That It Isn’t Run By Sufficiently Competent People To Be Trusted To Spend What It Does

/ Jack Marshall / 44 Comments

Oh, I almost forgot….

Kaboom!*

If this can save millions, what other measures are out there> Never mind---if they couldn't find this, they won't find them, either.

If this can save millions, what other measures are out there? Never mind—if they couldn’t find this, they won’t find them, either.

Here is the news story that justifies the title, and also that made my dome blow, as I’m sure yours will.

A 14-year old sixth grade student from Pittsburgh named Suvir Mirchandani devised, as his science fair entry at Dorseyville Middle School, a computer project that examined printing costs. He analyzed a random sample of school printouts and measured how much ink various fonts use. Noting studies that found ink remarkably expensive (I thought it was just my printer), Mirchandani calculated  that by simply switching from the Times New Roman font to a thinner, more ink-thrifty font like Garamond, his school district alone could reduce its annual ink costs by 24%,  saving up to $21,000 annually.

His  teacher encouraged him to submit his work to the Harvard-based Journal for Emerging Investigators, who were moved to inquire, “How much money could the  government save if it switched to Garamond?”

Plugging in the Government Services Administration’s estimated annual cost of ink, Suvir concluded that if the federal government used Garamond exclusively it could save nearly 30%  of the total $467 million, or $136 million per year. Placing state governments on a font diet would save an additional $234 million, he reported.

They checked his figures, and he was right. The simple act of changing a typeface would save taxpayers $400,000,000 a year. Kaboom.

Now permit me a brief rant…

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The Professions Most Likely to Cheat on Their Taxes?

/ Jack Marshall / 8 Comments

Gee, where do "Treasury Secretaries" fall on the list?

A study of I.R.S. data by a University of Chicago graduate student, now Doctor, Oscar Vela,  produced the following list of the professions most likely to file fraudulent tax returns, at least according to his analysis. Make of it what you will. The Time Magazine website blog post about the list is worth reading, first for the blogger’s highly questionable theories explaining, for example, why lawyers aren’t on it, but mostly to see conclusive proof that Time is hiring English-as-a-second-language night students, relatives of Ko-Ko the talking gorilla, or stroke victims to write their blogs. Sample sentence: “His conclusion was that as much as we would like to think so we pay taxes out of  the goodness of our hearts, or even because we are fearful of fines or worse.” Henry Luce just did a back-flip in his grave.

Dr. Vela’s theory is that the professions that are required to maintain a perception of integrity are less likely to cheat. Let us say that I am dubious. Why then are scientists so high on the list?

Here it is: Continue reading →

Do Economists Need A Code of Conduct?

/ Jack Marshall / 2 Comments

We can learn a lot about the discipline of economics, the thinking of its practitioners and the limitations of ethics codes by reading the various reactions of economist to the question, “Do economists need a Code of Conduct?” The responses range from “yes” to “sure, but it won’t do any good” to “no.”

You can read all about it here.