A bit of must-read economics

In the face of Obama’s new healthcare initiative, which includes provisions to cap the increases in insurance costs, you can read here a nice description of the problems of fixing maximum prices. When the Government caps prices to help people, it is a policy which goes in the category of “really simple, intuitive, well-intentioned, and wrong.”

More people need to understand the proper functioning of the free market. This is true of people on “Main Street” as well as those on Wall Street. I think I may be becoming more Libertarian in my old age. 🙂


About brianblais

I am a professor of Science and Technology at Bryant University in Smithfield, RI, and a research professor in the Institute for Brain and Neural Systems, Brown University. My research is in computational neuroscience and statistics. I teach physics, meteorology, astonomy, theoretical neuroscience, systems dynamics, artificial intelligence and robotics. My book, "Theory of Cortical Plasticity" (World Scientific, 2004), details a theory of learning and memory in the cortex, and presents the consequences and predictions of the theory. I am an avid python enthusiast, and a Bayesian (a la E. T. Jaynes), and love music.
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