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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.

Krugmania

By Megan McArdle
Feb 6 2008, 12:27 PM ET Comment

As I've blogged before, I'm interested in what this election will do to Paul Krugman's career. Before Dubya took office, he was a really good economics columnist with a cult following. His fame and fortune have been built on his opposition to Our Fearless Leader; I doubt that most of his slavish followers would read him so devotedly if he did not lend the imprimatur of science to their ferocious hatred of George W. Bush.

After the election, of course, this all goes away. Even before then, however, the cracks are appearing. His campaign against Barack Obama has alienated a lot of people who used to applaud him, or at least refrain from voicing doubt about his more dubious forays into political commentary. Now all the sudden, the tactics that have been approved when deployed against George W. Bush are not okay. Mark Kleiman is only the latest example of a trend I've been noticing for a while:

Yesterday's Paul Krugman column quotes a study by Jonathan Gruber of MIT, which Krugman portrays as a critique of Barack Obama's health care proposal by comparison with Hillary Clinton's.

Mr. Gruber finds that a plan without mandates, broadly resembling the Obama plan, would cover 23 million of those currently uninsured, at a taxpayer cost of $102 billion per year. An otherwise identical plan with mandates would cover 45 million of the uninsured — essentially everyone — at a taxpayer cost of $124 billion.


Since the Clinton plan contains not even an outline of how the mandate is to be enforced, I was puzzled about how Gruber managed to do his estimate.

RBCer Harold Pollack, a credentialed expert on health policy, having taken the drastic step of reading the actual study, gives us the answer: Gruber's imagined Obama-like plan with a mandate achieves the feat of virtually universal coverage by ... assumption.

Gruber:

In particular I assume that 95% of those who would not voluntarily choose to insure are forced to insure through the mandate.


[emphasis added]

So the "finding" comes out of precisely nowhere. Of course if the mandate succeeds, it will increase coverage, with most of the cost coming from the people paying those mandatory premiums rather than the [other] taxpayers. But the claim that it will actually succeed is based on nothing but an assumption. And yet no reasonable reader of Krugman's column would understand that.


Welcome to the club. Would that we could get a coalition to banish silliness like this from all political discourse, not merely the kinds we don't like. And yes, I'm sure I don't do a very good job of criticizing people I agree with either.

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