Word: injections
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Saving Rain Forests The best way to preserve rain forests is to inject value into their maintenance [Dec. 15]. But paying for avoided deforestation will only work if the financial incentive outweighs the alternatives. Paying for avoided deforestation can best be achieved by rewarding sustainable forestry. This adds further economic incentive (the price of the timber) to the pot and ensures the preservation of the resource, providing jobs and income. A global price of carbon internalized into the cost of goods and services will further discriminate in favor of sustainably grown wood. John White, CHIEF EXECUTIVE, TIMBER TRADE FEDERATION, LONDON
...Economics Humor Session is the AEA conference's first attempt to inject a little levity into an annual confab that noneconomists might charitably describe as dry. "You can count on one hand all the funny economists in the world," says R. Preston McAfee, a California Institute of Technology economics professor and Yahoo! research fellow who presided over the evening. But despite their rarity, some of these academics have attracted wide followings--admittedly, among those who can laugh at supply-demand curves. Yoram Bauman, a professor at the University of Washington, bills himself as the World's First and Only Stand...
...Kinsley's latest missive in TIME falls prey to one of the oldest traps in economics - Frédéric Bastiat's broken-window fallacy. Just as a broken window creates work for the glazier at the expense of the window owner, money that Kinsley hopes to inject into the economy must first be taken out of it. Add in collection costs and the usual political malfeasance, and we have a net loss to the economy. There's more: Kinsley argues that last summer's high oil prices were essentially a tax on consumers; the money just went...
...Kinsley falls prey to Frederic BaStiat's broken-window fallacy. Just as a broken window creates work for the glazier at the expense of the window owner, money that Kinsley hopes to inject into the economy must first be taken out of it. Add in collection costs and the usual political malfeasance, and we have a net loss to the economy. There's more: Kinsley argues that last summer's high oil prices were essentially a tax on consumers; the money just went to oil companies instead of the government. But he forgets that oil companies do not have control...
Although recreational stimulant use can be addictive - about 10% to 20% of people who use amphetamines to get high (particularly if they snort, smoke or inject) will continue to use, despite negative consequences - addiction rates are much lower when drugs like Ritalin and Adderall are prescribed for ADHD. It's not clear whether the pattern of addiction under medical supervision for enhancement would follow the former or the latter - or whether it would even meet the bar for addiction. Medically speaking, without the element of harm, regular drug use - or even dependence - alone doesn't qualify as addiction...