Efficiency vs. Well-being

Should society be primarily an efficient arrangement or should it aim to promote the well-being of its members? If it's efficiency you favor, then go ahead, lay off as many workers as you wish so long as you can still provide the goods and services demanded by paying consumers. However, if it's the general welfare you're concerned with, get ready to accept some inefficiencies.

This is the fundamental debate underlying key policy decisions: Should we stimulate the economy? Should we subsidize arts, education or public transportation? Should we spend resource on people unlikely to produce something of equivalent value?

I'd argue that, at heart, human beings are fundamentally inefficient. Let's do the return on investment (ROI) math.

1. Most human beings take about 22-23 years of utter subsidization -- infancy, parenting and schooling -- at a cost of $125,000 to $250,000, depending on household income level, not counting college.
   
2.  Add college: from about $40,000 to $200,000 for a 4-year undergraduate degree.
3. So society has invested between $125,000 and $450,000 on each person before they have produced a single widget or service of any economic value.
   
4. Then, let's assume that for about 40-45 years this person works. 
5. Subtract from this person's income his or her living expenses, then ask, at age 65, has society recovered $125,000-$450,000, adjusted for inflation?
6. Wait! From age 65 to whatever (100?), as a norm human beings go back to being non-productive resource consumers; in most cases, they end up being subsidized by someone else. So subtract what is spent in those years. Do we still have a profitable ROI?
   

So, you see, human beings are inherently inefficient. Let's get rid of them, shall we?

Toothaches, famines and other minor mishaps

The paradox of which I am fondest is the notion that my toothache is always worse than a famine in India. In that spirit, I'm also aware this week that my cold is much more severe than the illness that has gripped the economy. Still as events flutter past me I want to put my own corrective stamp.

OK, so Daschle is thankfully out, but what's with cabinet appointees who can't do their taxes? (And I blame Daschle because he was asked about taxes and he said there were no problems.)

And Repubs, hey, the stimulus bill is not perfect (I would put 100% into food stamps and unemployment compensation), but without a stimulus package ... we're in deep, deep, deep (did I say deep?) trouble.

Interesting how Papa Nazinger listens to Angela Merkel. The Vatican is now demanding that the British flake whose excommunication was revoked recant his Holocaust denial. (Tidbit learned from Wait, Wait Don't Tell Me: Bishop Richard Williamson, who denies Jews were gassed, also hates The Sound of Music.)

Oh, and great going Kadima and Labour governing coalition of Israel! Looks like Likud will bring a conservative sweep in the coming elections and even Tony Blair is talking of Hamas at the negotiation table (which was not on the horizon before the latest adventure) !!!!

Lastly, turning to local matters, the recurrent motorcades in and out of the White House seem lots less annoying now, even though they are as noisy and flashy and cumbersome as ever.

And that's the news from Cecilieaux's Cave.

"goddacode"

William Henry Harrison, the ninth U.S. president, served for the shortest period of time, 32 days. Like me, he caught a bad cold on inauguration day.

Harrison was sworn in on March 4, 1841, facing an extremely cold and wet day. without an overcoat or hat. He also delivered the longest inaugural address in American history: it lasted two hours. In an era without penicillin, he died by April 4.

Now you know why I have been silent. I think I will live to blog again.