The Decline in the Male Employment Rate

This has been an Econ topic of discussion the last few day:

Larry Summers: There is some social phenomenon which I suspect explains non work, non marriage, deaths of despair, general alienation and, I suspect, the rise of reactionary populism. It should be a major task of social science to understand it.

It seems like these are caused by the obvious things but that no one wants to acknowledge.

Non-work: Smaller and more affluent families are more willing and able to support a non-worker. Also black males have become a larger part of the population and at least since the 1960 have had a more sensible (Keynesian 15 hour work week) view of work leisure balance. 

Marriage: The most obvious reason for fall in marriage/rise single motherhood stands, women have better options now than staying with less desirable men.

I was talking to group of committed Christians recently and I mentioned that today if a girl gets pregnant people say she not make a second mistake, and surprisingly to me, they agreed that shoe shouldn't.

Even very religious people want their daughters to go to college, and not just to meat a nice husband but to build a career.

Deaths of despair:  Deaths of despair is IMHO a myth. While it's true that WV was number one in opioid deaths New Hampshire was number two. We should admit that some people really love to get high, some more that life itself. Robin Hanson has noted that drug overdoes deaths have doubled each decade at least since 1970 and maybe 1940.

James Kwak - Economism Should We Let Lawyers Run the Economy

Law professor James Kwak coined the term economism, contending that economists have too much influence in policy.

Economists who study interaction between supply and demand warned us that the legal (lawyer) method to suppression drug use wouldn't. Same with rent control

But you attack "economism",rather than an NIT/UBI just make it illegal to work for less that $x and it'll will work.

Kwak's attack on economists and "economism" says let's not go with people who study the economic trade offs but use the legal approach and just make what we don't want illegal. Make illegal to sell for less or more or at all. Not a good idea IMHO.

More on Student Debt Forgiveness

This is in response to the discussion here of student loan forgiveness.

From here:

"Most low-income students attending full time, full year (86 percent) received some financial aid, and the average amount received by low-income students (calculated including those with no aid) was about $6,100."

So why not:

 - Keep and maybe increase Financial aid.

 - Prosecute lenders and schools that commit fraud.

 - Get the government completely out of the lending business.

 - Probably too many students are going to college reduce the acceptance rates to state schools.

BTW the trades do not always require any schooling beyond high school and can be very lucrative. It's often much more lucrative to be one of the smartest plumbers around, who can run a business, than an average person in a job that requires a college degree. 

Also, tuition rates in state schools is a state issue but with more financial aid maybe it should be higher, that is the affluent should pay the full costs of college, which BTW are amazingly high. Spending on college by states and students can and should be cut. Florida spends much less per student year than most states and so there is a model to follow.

Social Security Beginnings

Links:

Why Is Social Security Regressive by Chris Pope.

The Twilight of Social Insurance also by Chris Pope

Both discus the beginnings of Social Security and how we arrived at the odd structure.

Some States spend Double what other state spend without noticeable Differences

Some states:

Look at Florida in figure 10 here, for education. Maybe more state governments should follow Florida's example.

Across US states, the min prison cost is in Alabama at $14K/yr, max is New York at $69K/yr. Do you doubt that the NY ones are nicer here? I really do not know how much worse it is in prisoon in Alabama verses New York.

Some state data on recidivism here.