There are times when listening to the weekend edition of NPR's Marketplace gets me agitated. Right now is one of those times. Tonight's discussion panel briefly debated the merits of the bailout and its consequences for human behavior. One panelist made the obvious point (to me anyway) that a world without consequences does not deter risk-seeking behavior that damages the economy. Another panelist acknowledged this but lauded the bailout anyway. That guy must have been selected in the interest of balance, not intellectual consistency.
I try to listen to all sides in debates but that takes time. My time is much more valuable now than it was when I was younger. You can say that my opportunity cost for listening to nonsense is much higher now, especially since I've learned to spot nonsense after listening to so much of it in my life. Life is short. Each of us only has so much productive time available. I try not to waste time by suffering fools.
I don't want to listen to people who explain away moral hazard and gambling. Those people add nothing to my life.
