One of the best things about taking an introductory economics class is that it allows you to parse political arguments. We're fortunate to be having this class during the presidential primaries, when many of these arguments are being made explicitly. Last night, both parties held debates in New Hampshire.
The following clip is from the Republican debate, and features Ron Paul and Fred Thomson talking about health care:
There are a number of good economic questions in there. Does spending on the Iraq war decrease the resources available for health care? Why is health care so expensive? Would having transparent prices for medical services help or hurt health care? What about having the government provide it?
Later, in the Democrat's debate, there was an interesting discussion about how to combat global warming. Bill Richardson, who was energy secretary during the Clinton administration, gives the first speech; Barack Obama then responds to Richardson. Start the following clip at 3:05:
How does a cap-and-trade system differ from a carbon tax? Is Richardson right that a cap-and-trade system is better for consumers, or is Obama right that the costs will be passed along either way? What about this heretical position: should consumers pay more for energy? Why or why not?
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