Mitt Romney, presidential candidate, said in now-infamous comments that 47% of the American electorate is dependent on the federal government, that he will never be able to teach them to take personal responsibility for their lives, and that they are certain to vote for Barack Obama in November. He continues a tradition in his party that goes back at least three decades: building political campaigns around the proposition that folks in the heartland exhibit the American virtues of self sufficiency and personal responsibility and the implication that other, more urban, regions display decadent social values and dependency on government.read more
The Supreme Court today upheld the Affordable Care Act of 2010, otherwise known as Obamacare. Judging from the polls, American public opinion appears to be very sharply divided over the legislation. Some view it as socialism, others as the first success in a half-century of efforts to achieve a sensible national policy on health care.
What explains the wide divergence of views? An economists’ approach – cynical or naïve depending on how you look at it – would be to assume that citizens vote according to their own personal interests. Getting the uninsured onto paid insurance through the individual mandate is very much in some people’s interest, but not necessarily as strongly in others’ interests. Let’s take a look.read more