Sunday, May 22, 2011
Randy Barnett on the Individual Mandate
Saturday, May 21, 2011
Price fixing is not Cost Control
In some states like New Hampshire, groups of more than 20 workers have experienced premium increases of around 20 percent this year, while smaller groups have seen increases of 40 percent or more. At the same time, insurance agents say, coverage is shrinking as deductibles have increased and insurers limit the choice of hospitals.
Insurers Told to Justify Rate Increases Over 10 Percent
To ensure that “consumers get value for their dollars,” the new health care law required annual reviews of “unreasonable increases in premiums...”
Under the new rule, federal and state officials will review rates in the individual and small-group insurance markets...
Federal officials acknowledged that they did not have the authority to block rates that were found to be unjustified. But they said many states had such authority, and the federal government is providing $250 million to states to strengthen their capacity.
Friday, May 20, 2011
Just think what Free Market Medicine could bring
Electrode Experiment Shows Promise as a Paralyzed Man Stands
By DENISE GRADY
Published: May 19, 2011A young man paralyzed by an injury to his spinal cord has regained the ability to stand for short periods, take steps with help and move his legs and feet at will, with the help of an electrical stimulator implanted in his lower back. The device is experimental and not available to other patients, and because it has been studied in only one person it is not known whether it would work as well in other people with different types of spinal injury.
You can bet there would be a market for this devise, and that at first only the very wealthy would be able to afford it. But, then like computers, and cars, and refrigerators, and cell phones, with time the cost would come down and more and more people would be able to afford it, then the truly needy could be helped by private charity.
Wednesday, May 18, 2011
The Morality of Profit
Tuesday, May 17, 2011
ARRA: The seen and the unseen
American Recovery and Reinvestment Act
What is unseen:
Read more in this Ohio State Study:
For the time challenged: NCPA highlights the study findings.
Monday, May 16, 2011
A Dent in the Debt
Saturday, May 14, 2011
What do Medicare, the Housing Bubble and the Chinese High Speed Rail have in Common?
Prices are really useful. But in whole large sectors of the Chinese economy, particularly the banking sector, the government sets those prices. This means huge information loss, and the concomitant possibility that there is a vast misallocation of resources.
Don't those things happen in markets? Hell yes: witness the housing bubble. On the other hand, witness East Germany. To get a really catastrophic misallocation of resources, it seems to take a government; corporations can only screw things up on an artisinal scale. For that matter, it's worth noting that our government has spent the last seven decades trying to keep the price of housing low, and that much of that intervention, such as the creation of mortgage securitization, ultimately significantly contributed to the crisis.
It's worth remembering that at the time they were built, all those useless houses looked like prosperity.