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Thursday, February 2, 2012

Introducing the Mankiw Tax

I have done extensive research on the subject utilizing myriad assumptions that tend to align with my political ideology, and have come to the conclusion that our world suffers a 'social cost' due to the distorting and one-sided 'education' that Mankiw provides via his textbooks and his blog.

I have run the calculations in a complicated 'real world' simulator (ie. a fake world) and have determined the degree of the negative externality.  I have calculated that if the federal government were to institute a pigouvian tax on all Mankiw texts purchased, by approximately $40.23 per issue, the externality problem should be solved.

During the vetting of my research, some claimed that instituting such a pigouvian tax would unduly hurt the educational institutions and students that purchase Mankiw texts.   But as any economist knows, where you levy the tax has no affect on tax burden - it will likely impose a cost on both the consumers of Mankiw texts as well as Mankiw himself depending on elasticities.   But that's the point of trying to change behavior - the price mechanism is the best way of reducing use of Mankiw textbooks.  The entire cost will not be born by the consumers in any case.   I mean, after all, the economics textbook market is perfectly competitive because that's what my real model tells me, in addition to what relevant elasticities are.   My real model is based on sound knowledge that I gained from my principles economics course that I took at Harvard... I never did learn that teacher's name....

6 comments:

Daniel MacDonald said...

Great post. One would hope (given your earlier work on Pigouvian taxation here http://anti-mankiw.blogspot.com/2012/01/obsession-with-pigouvian-taxation.html) that this tax will not lead to an overexpansion of government due to economics professors' seemingly-insatiable appetite for mainstream economics. Perhaps we can use the money to fund anti-Mankiw campaigns instead?

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