標籤彙整: 經濟學

曲解經濟學的社會成本:社會選擇理論是怎樣分析郊野公園與蓋房子的問題

雷鼎鳴發文說不發展郊野公園有很大的社會成本,這番言論在社會選擇理論之中根本就站不住腳。首先要説明,我不會認爲雷鼎鳴的説話是經濟學家的説話,因爲這他提出的言論有惡意論述argument in bad faith)的味道即是透過歪曲道理和事實去「論證」他的立場。他這種行爲是有跡可循,早前我已經批評過他將Alan Kruger David Card對最低工資研究認爲沒有證據顯示適量的增加最低工資會對經濟造成負面影響」這個中性的結論,單純的用「訴諸知名度謬論」排除,而漠視其他研究和有多於650位經濟學家,其中有6位是諾獎得主,都支持適度地增加最低工資這個事實。

今次這番言論又是扭曲了經濟學中社會選擇的概念。當然,另一邊的人不懂經濟學,將他視爲「主流」經濟學家,又是另一個嚴重的問題,因爲這樣一錯,很多人就以爲經濟學就是這樣,而發現不到衹是個別經濟學家亂用或歪曲學理的問題。雷鼎鳴今次錯的就是經濟學上的錯他們并不是搞錯「社會成本」這個概念,因爲社會成本是指所有成本,直接或外部,的加成。成本沒有經濟和不經濟之分,因爲衹要説到成本,你就必然是說經濟問題,效益的問題。這是鄒崇銘錯誤的地方。

雷鼎鳴錯是錯在他衹計算蓋房子的收益與成本,不計算不蓋房子(即是保留郊野公園)的收益與成本。假如蓋房子有一個收益值,不蓋房子也同樣有個收益值。衹要涉及到成本收益的計算,你就必要計算所有成本和所有收益,然後對比其他替代方案的成本收益總和,因此形成一個選擇序列。任何的成本收益分析都必定是平等的比較幾種方案的成本、收益和風險,刻意的忽略某方案的成本或收益,就是片面地偏袒某一方案,而這種分析必然是不可信。

除此之外,社會選擇中的成本收益分析還有一個重要概念:「支付意願willingness-to-pay。假如公衆願意爲房子支付一定數額的金錢,他對郊野公園也同樣會有一個願意支付值。假如其他成本相等,單是按照願意支付的價格來作選擇,假如公衆對郊野公園的願意支付值大於起樓,那保存郊野公園就是更具經濟效益的選擇。當然,去問一般人他們願意爲保存郊野公園支付多少錢,大多數人會打一個大問號,因爲郊野公園屬於公共產品,不能交易,所以沒有市價可言,在經濟學中這叫「市場失靈」。一個經濟學家在跟樓宇銷售價格作對比之前有責任想清楚假如郊野公園有市價,這個價值是多少,否則他的所謂分析其實是在欺騙公衆。

要計算一樣選擇的總成本和收益,基本上這是不可能,因爲我們不可能事前想到所有的外部成本,而且每個人的支付願意值都不一樣,在經濟學中這是因爲不完整訊息所形成。因此,要計算總成本和收益,我們要分客觀和主兩部分。先說客觀。我們要問,失去郊野公園會帶來什麽客觀損害。郊野公園是一個複雜的生態系統,而這個系統對人類生活、生態的持續發展、醫藥研究等都有莫大的價值。我們簡單一點衹説一個變量,郊野公園有衆多草地和樹木,所有它是一個「碳收源」。一個郊野公園每年可以吸收一定程度的碳,而碳環境的損害是一種成本(反之,碳的減少同時也是收益)而這個成本的價值,我們可以各國的碳交易市場得知(當然真的要算就不是這麽簡單,還要看有否低估,市場是否有人爲扭曲之類),這樣一算,我們就可以知道郊野公園的(部分)經濟作用(效益)

計算主觀成本比較難,因爲訊息不對等,有些人會過度的高估或低估這個價值,例如有些人會願意花/浪費極大量金錢去滿足自己對環境和能源政策的錯誤想法,因而增加氣候轉變的風險反核就是這個問題(反疫苗、順勢療法也是一樣)。我們有幾個方法應付這個問題:1)不理那些極端,不能理性地衡量問題的「瘋子」;2)取中位數或者平均數;3)引用相似但比較易理解的物件;4)詢問可以代表理性公衆的人。這些方法也不是完美,例如第一點,有一些人會堅持比他人過度高估或低估價值,但這并不代表他們必然是「瘋子」,他們可能有他人沒有的訊息和理據,所以我們處理問題時也要小心。同時,問問題亦要有技巧,假如你問人:你願意爲郊野公園支付多少錢,大多數人都不懂回答,但如果你問:你願意爲制止人破壞郊野公園支付多少錢(或他人支付你多少錢讓他破壞郊野公園),假設郊野公園能帶來多少錢的利益,我相信大多人都能合理回答這道問題(這是willingness-to-paywillingness-to-accept在技術上不同之處)

所以「郊野公園對蓋房子」這個課題,假如我們沒有先入爲主的立場,我們就需要用上成本收益分析去考慮。當然,我們單是個人根本不可能做這種詳盡的分析和數據搜集,所以我們應要求政府發出這樣的報告,然後再經過同儕審查,甚至複製這個過程來驗證報告中的結論準不準確。這過程需要大量訊息和專業知識,所以所謂的公衆知識分子在社會中有一個非常重要的角色,他們需要用自己的專業知識去分析不同的事情,尤其是與政策相關的,并想辦法讓缺乏專業知識的公衆合理地理解這些問題。

就算報告的計算結論中肯,同儕審查認爲方法公正,結論合理,公衆依然抵制蓋房子或保留郊野公園,政府行事就必須小心,因爲這做決定是也要考慮「顯示性偏好」(revealed preference,公衆會因爲訊息的改變而增加或減少估算而改變原來的價值估算「顯示性偏好」這個概念説的是本來一個人沒有考慮或者認爲沒有價值的,但到有人提起,或者到失去了或對比之後才發現是很有價值的東西,例如舊情人行山或郊外運動的重要性。因爲公衆平時將忽視郊外運動的價值,又或者認爲有郊野公園在,他們想什麽時候去都可以,所以他們就會低估郊野公園的重要性,但當你說要拆除,他們就會因爲面臨失去而改變預算與行爲。任何經濟學家都不能忽視這個價值,因爲它跟房子的價格會按照供需預期而改變的道理是一模一樣的。

假如報告方法結論合理,政府需要向公衆説明爲何這是較好的選擇,假如公衆依然不支持,不論是理性或非理性高估、低估也好,它就可能要重新考慮。這就是審議式民主的作用,也是其中一種展示方式。當然,假如所需要作的選擇是非常迫切,影響重大而公衆始終無辦法理性的考慮問題,這現象可見於美國的槍械管制、廢除死刑、醫療保險改革等等,政府就必須要作出客觀上對最爲有利和安全的選擇,不過在推行政策時它需要小心,或者提供一段緩衝時間去讓公衆慢慢的消化訊息和接受結論。上面説到選擇序列,政府這時候要作的可能是退而求其次選擇序列中的次位或第三位,這樣就可以有限度地避免估算失誤的問題。這是如何謹慎地作重大政策選擇的方法。

因爲理性分析是審議式民主的基礎,假如公衆看事情始終不願意看證據和認真的思考,衹根據自己片面的喜惡去衡量一個決定的價值,那審議式民主就會立刻崩潰,任何民主制度都會因此失靈。所以現代民主重視知識和知識的傳播。雷鼎鳴歪曲了他所應該知道的知識,又沒有經濟學家出來指出他的錯誤,反對者又因爲不懂經濟學的關係而將批評重點放在與問題無關的其他經濟學概念上,殊不知經濟學中的社會選擇理論已經能説明雷的言論是錯得離譜。這種思維會讓人錯誤理解經濟學,因而變得不願學習,社會也會失去一套能有效分析政策問題的工具。

説回郊野公園與蓋房子這個問題,我們可以反問雷鼎鳴,使用成本收益分析,假如公衆認爲郊野公園的價值大於蓋房子兩倍,他會否認爲不拆除房子改建郊野公園是一件「墨守成規的蠢事」?我相信不會。樓價與房子的供需問題是由很多因素形成,2008年後樓價不受控的上漲其中一大原因是利率和匯率均過低。假如利率和匯率正常,又假如當年董建華一直實行八萬五政策,并取得實際的效果,而其中并沒有使用郊野公園部分,我們并沒有原因認爲要蓋足夠的房子和穩定樓價就必須放棄郊野公園。作爲經濟學家,不去先談貨幣政策的問題,卻要打郊野公園的主意,同時讓人誤解經濟學,我認爲雷鼎鳴發出這文章最大的社會成本就是他失去了一個學者應有的操守。

Capital in the Twenty-First Century: A Review from a Layman’s Prespective

By William Tso from blog 1989.
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Capital in the Twenty-First Century

With economics knowledge only at the high school level, I am not a position to judge the merits ofCapital in the Twenty-First Century (‘Capital’) written by the French economist, Thomas Piketty, and translated by Arthur GoldhammerEconomist and Financial Times, the vanguards of free market and capitalism, have launched their, sometimes scathing, reviews of the work (also see the links in the extended readings below). Numerous other professional economists and experts must have also put forward their own learned views. What I wish to do here, however, is to review the work from a layman’s perspective; that is from a perspective of a curious reader with a keen passion to know more about the world. Although Piketty intends to write for the general audiences, the length of this work – running more than 600 pages – is formidable even for a non-fiction reader like me. This is especially so as the idea that he espouses does not seem a particularly insightful one.

In short, Capital is about how capital is accumulated and distributed through different economic mechanisms, among which r > g (whereas r = rate of return on capital, g = rate of growth of income and output) is the central force. As r exceeds g, wealth accumulates in a faster rate than output and wages. Consequently, those who initially own capital can generate even greater profits and will eventually become rentier. (Disclaimer: this is a simplistic summary; readers can visit the summary in Economist‘s review, and also see the links below).

The propositions that a very small number of people control the majority of the society’s wealth and that those people are also the dominant class and ruler of the states  are neither a new nor an innovative insight. More than two thousand years ago, Aristotle characterized that kind of society as an ‘oligarchy’. Similar rhetoric is repeated by intellectuals when the nobility was overthrown in the French Revolution. The idea is rekindled as socialism arose in the 19th century and is then ingeniously woven into a grand theory by the grand priest of communism: Karl Marx.

The special significance of Capital does not lie at the repetition of an old idea. Rather, it is the manner of the retelling that agitated the capitalists. Piketty supported his proposition that 10% of the society, and especially the top 1%, can control substantial amount (30% – 50%, depending on different countries) of wealth with a collection of data over three centuries. Although the data are not flawless, as Piketty readily admitted on numerous occasions, they unambiguously point to one direction: wealth inequality has steadily risen since the 1980s and shows a clear trend of reaching to a pre-1914 level – a time when the aristocratic class occupied most, if not all, wealth of the society. The slogan of Occupy Wall Street Movement – “We are the 99%” – ceases to be mere rhetoric and becomes a terrifying economic fact.

The meticulous approach that Piketty treats his data serves to boost the credibility of Capital. He explained the economic concepts,  traced the trends suggested by the data and then described the phenomenon in individual countries. France received the most attention because her data has been the most complete and reliable. After making comparisons among different countries (notably Switzerland and United States of America), he drew some general observations at the end of the chapters.

As a result of such careful analysis, the book is long, and sometimes tedious. This is not assisted by his writing, which, like his analysis, is cool and dispassionate but also dry and dull. I read the English version translated by Arthur Goldhammer. I am not sure whether the writing is more interesting in French.  Examples from Balzac and Austen are interesting at first, but repeated citations from them leads to boredom.  I don’t usually recommend people to skip chapters but due to his (over-)meticulous approach, and unexciting writing, it is advisable to read the more interesting chapters (e.g. the analysis of the structure of inequality in Chapter 7 – 12, and his proposal for global tax on capital in chapter 15).

These minor blemishes aside, Thomas Piketty has more than excelled his role as a public intellectual: to inform the public of the dire direction we heading to. As Capital already caused an uproar (as giants such as Economist and Financial Times are bothered to write several long articles to review it), it will continue to have impact on any discussions about public spending/debt, pension systems, taxing policies, and etc. It is a book worth reading to prepare yourself for those discussions, and for your own financial future.