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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.

Confusing political economy with personal virtue

By Megan McArdle
Oct 22 2007, 12:09 PM ET Comment

Apparently, a number of people in the comments genuinely did not understand the point of my last post. Okay, let's go over it again.

It is common to hear Democrats/progressives complain that Republicans/conservatives/libertarians are selfish because they want to cut taxes instead of spending that money on national health insurance or expanded welfare benefits or some other social program.

But this makes absolutely no sense. Democrats are not advocating spending their own money on the poor; they're advocating spending the money of a very small group of voters who lean Republican. One might argue that this very small group of voters is selfish, but they are not the majority, or even a plurality, of Republicans staunchly opposed to taxes. Or other people opposed to taxes. Of all of the libertarian bloggers out there advocating lower taxes and social spending, I'm hard pressed to think of one who wouldn't personally benefit more from the increased social spending than from the lower taxes.

The majority of people opposed to purchasing the higher-taxes/lower-social-spending combo pack may be wrong on some utilitarian basis, but whatever their sins, they are not the sin of selfishness.

Yet public debate often features an underlying moralistic current in which Democrats act as if they have captured the moral high ground on matters of the public purse--as if advocating public charity were some lesser form of engaging in private charity. It isn't. It may be necessary to take money from third parties in order to give it to other third parties, but doing so at absolutely no personal cost to yourself is not an act of virtue.

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