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Megan McArdle

Megan McArdle - Megan McArdle is a senior editor for The Atlantic who writes about business and economics. She has worked at three start-ups, a consulting firm, an investment bank, a disaster recovery firm at Ground Zero, and The Economist. More

Megan was born and raised on the Upper West Side of Manhattan, and yes, she does enjoy her lattes, as well as the occasional extra-dry skim-milk cappuccino. Her checkered work history includes three start-ups, four years as a technology project manager for a boutique consulting firm, a summer as an associate at an investment bank, and a year spent as sort of an executive copy girl for one of the disaster-recovery firms at Ground Zero … all before the age of 30.

While working at Ground Zero, Megan started Live From the WTC, a blog focused on economics, business, and cooking. She may or may not have been the first major economics blogger, depending on whether we are allowed to throw outlying variables such as Brad Delong out of the set. From there it was but a few steps down the slippery slope to freelance journalism. She has worked in various capacities for The Economist, where she wrote about economics and oversaw the founding of Free Exchange, the magazine's economics blog. She has also maintained her own blog, Asymmetrical Information, which moved to The Atlantic, along with its owner, in August 2007.

Megan holds a bachelor's degree in English literature from the University of Pennsylvania and an M.B.A. from the University of Chicago. After a lifetime as a New Yorker, she now resides in northwest Washington, D.C., where she is still trying to figure out what one does with an apartment larger than 400 square feet.

An even worse argument in favor of single payer

By Megan McArdle
Aug 24 2007, 1:30 PM ET Comment

Several people have said that single payer must be moral, because it works just like other insurance: some people get more out of the pool because they have to tap it, while others get less.

Uh . . . do you really not understand the difference between voluntary and forced transactions? You are perfectly entitled to pool your risk with that of others at any price you care to pay . . . or not, just as you please. This action has no moral content, although I concede that The Church of the Suburban Methodist may have made purchasing adequate insurance one of its tenets.

Millions of people subscribe to US Magazine . . . and for that matter, the Methodist church. Would it be morally okay to force everyone to adopt some belief about the existance of God, or Salma Hayek, because millions of Americans have found it very satisfying to do so?

Update What about mandatory auto insurance? This is completely different. We don't force people to buy auto insurance in order to forcibly pool the risks of bad drivers and goods, thereby transferring money from the good drivers to the bad ones. We force people to buy auto insurance to protect others; drivers have a high potential to cause damage they can't pay for. It's a social arrangement to minimize externalities.

Moreover, we don't force everyone to buy insurance whether they have cars or not. We don't even force car owners to buy insurance. We just force people to buy insurance if they drive on public roads, in order to protect their fellow citizens from the possible negative consequences.

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