Speaking of Greg Mankiw
Base10 has decided to follow the econo-bloggers a bit more and finds Greg Mankiw's blog to be particularly interesting (no surprise there--his macro textbook is one of the best intermediate texts out there). Mankiw has a great op-ed in the Times the other day about the mischaracterization of healthcare statistics. On the rising cost of healthcare:

Fortunately, our incomes are growing, and it makes sense to spend this growing prosperity on better health. The rationality of this phenomenon is stressed in a recent article by the economists Charles I. Jones of the University of California, Berkeley, and Robert E. Hall of Stanford. They ask, “As we grow older and richer, which is more valuable: a third car, yet another television, more clothing — or an extra year of life?” Mr. Hall and Mr. Jones forecast that the share of income devoted to health care will top 30 percent by 2050. But in their model, this is not a problem: It is the modern form of progress.

(link in original)

Good article. Here's a link to his blog.

Labels: economics

- posted by Base10 @ 10:42 AM