The opening paragraphs from my new Mises Canada post:
The good thing about the Internet is that there is a Hayekian safety net: When a bunch of free-market economists are idiots and overlook an obvious point, eventually somebody comes along to rescue them. For today’s example, we have the arguments over the CBO’s estimate that the Affordable Care Act (ACA aka “ObamaCare”) will cause a reduction of the equivalent of 2.5 million full-time jobs in the U.S. labor market.
In previous posts (here, here, and here), I walked through the attempts of Paul Krugman and other ACA apologists to spin this finding as a good thing. Yet there was something incredibly obvious that I (and everybody else I have been reading) missed, until David R. Henderson pointed it outin a piece for the Hoover Institution. David writes:
Can’t stand the suspense? You’ll have to click the link.