I have not taken the time this week to go through the huge controversy on the web about the preliminary results on the effect of ObamaCare on health insurance prices in California. That’s not to say that I haven’t read pretty much everything the various players have written on both sides. I have. But after reading them, I realized that I would need to go back and forth a few times to parse out who’s arguing about what, who’s hiding what, who’s minimizing what, etc., and then, ultimately, what’s both true and important.

Fortunately, Tyler Cowen has done much of that for me–and you. So my preliminary statement on this important issue is what Tyler said. As we go along, I might have more to add.