One of the guest bloggers here, the esteemed Ed Harrison, was initially more hopeful about Obama than some of us (I an sufficiently cynical that I find it hard to get excited about any politician, although I will confess to falling for Australia’s Kevin Rudd) but is now calling him a black Herbert Hoover. Even […]
Read more...Submitted by Edward Harrison of Credit Writedowns. As you all know, Yves has been swamped writing her book, a work we all await with anticipation. So I have stepped into the breach to add my voice to hers on this site from time to time. This week I will also try to help pick up […]
Read more...Submitted by Edward Harrison of Credit Writedowns. Just when you thought things couldn’t get any more questionable in Washington, then along comes this (hat tip Tom). Washington Post publisher Katharine Weymouth said today she was canceling plans for an exclusive "salon" at her home where for as much as $250,000, the Post offered lobbyists and […]
Read more...Edward Harrison is the main writer at Credit Writedowns. Yesterday, I argued that the United States faced a policy dilemma in avoiding debt deflationary forces while maintaining fiscal prudence. The reality is that President Obama faces political constraints in Washington right now in regards to budget deficits. He is not likely to get another stimulus […]
Read more...I’ve been waiting for estimates of what the impact of a pandemic would be. Although the swine flu has now been elevated by the WHO to pandemic status, it’s far too early to say what that might mean in costs, both lives and dollar costs. Moody’s has made a first cut. From the Financial Times: […]
Read more...How dare the CEO of Wal-Mart, the company that makes such a studied practice of paying workers so badly that taxpayers subsidize its prices, say he and big business should influence health care policy? The US has the most costly healthcare in the world while failing to produce materially better results than countries with varying […]
Read more...The headline above comes from the UK’s Independent. I could have picked number of variants (BBC, “Anti-depressants ‘of little use‘,” Financial Times, “Antidepressants ‘have no impact‘”), but what is interesting is that as of this hour, this study, published by the University of Hull, is getting MSM coverage solely in the UK and Commonwealth countries. […]
Read more...It’s popular to beat up on the drug industry these days, but it is a deserving target. The prices drug companies charge in the US are outlandish; most of their so-called research is on “new drug applications.” But over 80% of those are other uses of existing drugs. For instance, Wellbutrin, an anti-depressant, is also […]
Read more...In case you had any doubts about the efficacy of US medical spending… From UCSC, via Barry Ritholtz.
Read more...A 2002 article by Michael Prowse in the Financial Times addressed the question, “Is Inequality Good for You?” Normally, discussion of that topic involves issues of equity and efficiency. Those of a liberal bent contend that unequal societies undermine the legitimacy of authority. Those on the right argue that people are unequal, therefore results will […]
Read more...The Los Angeles Times reports that California’s $250,000 cap on pain and suffering awards in medical malpractice lawsuits has proved to be more beneficial to doctors and insurers than legislators may have intended. Not only does the law reduce the amount of damages, but it has had the effect of deterring lawsuits, particularly involving elderly […]
Read more...Ooof, talk about dispelling the illusion that anyone will take care of the aged. There has been ample comment about the need to reform Social Security. However, the real problem on the retirement entitlements front is Meidcare. Paul Krugman and Dean Baker, among others, have pointed out at length that alarming increases forecast for Medicare […]
Read more...Readers invited to contribute: Once simple commercial relationship (doctor-patient, lender-borrower) made complex in the pursuit of efficiency System increasingly looks to be broken, yet degree of specialization and integration makes it difficult to launch reform/improvement programs Incumbents argue that change will stifle innovation Many middlemen add costs that critics argue are out of proportion to […]
Read more...The reputation of drug companies has taken a beating in recent years. Their prices have risen much faster than inflation (except for last year, when generics had some impact), makes them almost universally suspect. The industry’s claim that its fat margins are warranted by its investment in research doesn’t bear much inspection. 45% of drug […]
Read more...The New York Times today, in “More Profit and Less Nursing at Many Homes,” describes the often shameful behavior of private equity owners of nursing homes towards their charges: Some excerpts: As such investors have acquired nursing homes, they have often reduced costs, increased profits and quickly resold facilities for significant gains. But by many […]
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