Cross posted to Economics community. I think it is time to increase taxes in the United States. Federal spending on the Katrina clean up and the aid for the displaced will be enormous. And the U.S. is committed to keeping troops in Iraq for several more years. Moreover the U.S. national savings rate is zero. So taxing is a form of forced savings. ( Read more... )

I originally posted this comment in a thread in the ForeignAffairs community, but am reposting it here in case that thread is deleted ( Read more... )

Progress always comes with risks and negative side effects. Most drugs have side-effects, and most industrial processes create pollution. Ideally when a potential drug is tested prior to public release, the side-effects of the drug are weighed against the benefits. If the benefits to the patient are deemed large and the side-effects low, then it ( Read more... )