Skip Navigation
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.

The Devil You Know

By Megan McArdle
Jan 21 2010, 1:49 PM ET Comment

Commenter MC offers this thought:

Another wrinkle that a lot of people leave out is that many of us have, and more of us should have, a bias towards the status quo on any issue. It's a bias that can be overcome if the people advocating change make a really good case, but we place the burden of proof squarely on those who want to change something. If they don't make a good case for the specific change they propose, the other side isn't obliged to do anything. But of course the other side can make a case for a different change, if they want to, in which case the burden is on them.

Note that this isn't to say the status quo is perfect. It's just that we have full information about it, because the experiment has been run and the outcome is there for all to see. We can see the good points and the bad. But with any hypothetical change, we really don't know what is going to happen. The benefits that proponents of the change promise may occur, or they may not. There will almost certainly be unintended consequences. We don't really know. And that suggests a need to move slowly, test things out, communicate honestly about what does and does not seem to work, and so forth. The exact opposite of bumper sticker politics and rushing through legislation before the public can digest it and weigh in.

The Democrats have failed the communication test rather spectacularly in this case. And a lot of people who are NOT stupid or uninformed can articulate real problems with the bills Congress has passed. And so, for these people, the Democrats haven't met the burden of proof and we should default to the status quo for a few more years.

This isn't about a preference for public vs. private sector solutions either. I would apply the same kind test to a proposed change that involved privatizing something the government currently does. The lack of information is the same no matter which way you are going.

It's a dynamic neither side pays enough attention to.  It brought down Social Security reform, and it looks now as if it may have brought health care reform down too.


Presented by

More at The Atlantic

What Matters in President Obama's 2013 Budget What Matters in President Obama's 2013 Budget
Anne Rice, 'Secret World of Arrietty': The Week Ahead in Pop Culture The Week in Pop Culture
Mourning in America: Whitney Houston and the Social Speed of Grief Whitney Houston's Death and the Social Speed of Grief
The Fearlessness of Jeremy Lin The Fearlessness of Jeremy Lin
The Myth of Energy Independence: Why We Can't Drill Our Way to Oil Autonomy The Myth of Energy Independence

Join the Discussion

After you comment, click Post. If you’re not already logged in you will be asked to log in or register.
blog comments powered by Disqus
Special Report
Submit Your Photos of America at Work AP Submit Your Photos of America at Work
Send us your images of friends, family, and neighbors on the job. We'll publish the best. Read more ›
View All Correspondents

The Biggest Story in Photos

Athens in Flames

Feb 13, 2012

Subscribe Now

SAVE 59%! 10 issues JUST $2.45 PER COPY

Facebook

Newsletters

Sign up to receive our free newsletters

(sample)

(sample)

(sample)

(sample)

Megan McArdle
from the Magazine

Why Companies Fail

GM’s stock price has sunk by a third since its IPO. Why is corporate turnaround so difficult…

The Graduates

Busted banking careers, crashed consultants, and shrunken incomes: the author attends her 10-year…

Romney’s Business

The Republican contender touts his business experience—but does it really matter?