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Tag Archives: Health economics

Health policy wonks and the preservation of human capital

Austin Frakt at the New York Times covered an interesting survey of health economists, revealing their interesting support for the status quo  Mike Cannon at CATO has an interesting tweet storm in reaction, and Tyler Cowen at Marginal Revolution also comments. My diagnosis comes at the end. Those whose human capital is knowledge of the current rules, and whose employment derives from the agencies who run the current system, are unlikely to challenge the...

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Health spending

Via the always excellent Marginal Revolution, which has its own commentary,  a splendid Random Critical Analysis post "why conventional analysis on health care is wrong."Why does the US spend so much more on health care than other countries? Well, in part because we are a lot richer. We buy a lot of luxury goods. The fit of the line is impressive.So, not mentioned in the original, is the spread of household income on the x axis. Particularly interesting in terms of the call that we...

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Free Market Health Care

There exists a Free Market Medical Association. Some quotes from the website:.... innovation in healthcare can only happen when a buyer and a seller are able to business transparently and fairly.The free market movement in healthcare is gaining steam. ...Matching a willing buyer with a willing seller of valuable healthcare services is the goal of everyone involved in this movement. We help identify patients willing to pay cash, doctors willing to list their prices, businesses attempting...

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Boot Camp

The Hoover Institution will host another "Policy Boot Camp" August 16-22. See here for details and how to apply. It's a one-week survey of serious policy analysis.The program includes  economists such as John Taylor, Ed Lazear, Amit Seru, Caroline Hoxby, Erik Hurst, and yours truly. Learn about international affairs from H.R. McMaster, Jim Mattis and  Condoleezza Rice. Niall Ferguson on Nationalism vs. Globalism and Bjorn Lomborg on climate should be worth it all on their...

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Goodman on health insurance

John Goodman and Devon Herrick have a good essay on where we are with health insurance.The central impetus of Obamacare was not to insure more people....About 95% of those who vote already have insurance, Schumer noted. So Obamacare was promising to spend a great deal of money on people who don’t vote.Instead, their message focused on protecting sick people from abuses by insurance companies. More often than not, that meant protecting people who migrated from an employer plan to the...

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Is the Grand Canyon Just a Ditch?

[Originally posted at economics21.org]The myriad deregulatory actions of the Trump administration are generating considerable cost savings, savings that even conservative critics of regulatory overreach are underestimating. Like the Grand Canyon, the vast scale of these deregulatory efforts (and their results) is hard to fathom.In just three years the administration has reversed hundreds of regulations, many of which drone on for hundreds of pages. And it’s done so without fear or favor....

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Free market health care

and transparent pricing are  possible. Russ Roberts has a great econtalk podcast, interviewing  Keith Smith of the Surgery Center of Oklahoma Click on that link, roll over the areas of your body that hurt, and find out exactly how much it will cost to fix them.No insurance. Pay a preset transparent surprisingly low price. Get surgery. A great piece of news is that this is actually possible -- you won't go to jail (yet) for just running a hospital like any other...

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Rising Health Spending Is Not Just About Seniors

The Canadian Institute for Health Information (CIHI) has released its 23rd annual report on health spending in Canada - National Health Expenditure Trends, 1975 to 2019.  As a member of the CIHI National Health Expenditures advisory panel, it is always great to see the wealth of data on trends in health spending across Canada.   Total health spending in Canada in 2019 is expected to reach $264.4 billion which represents an increase of 3.9 percent over last year and also accounts for 11.6...

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Economic Theory in the White House: An Index of 66 Instances in One Year

It is difficult to exaggerate the usefulness of Chicago Price Theory for economic analysis in the White House.  Below is an index of 66 instances that I can remember where Chicago Price Theory was directly and specifically applied to analysis (usually publicly released) of economic issues over a one year time frame.  As an example of what I mean by "directly and specifically," compare Chicago Price Theory's Figure 19-3 to Figure 7-2 in the 2019 Economic Report of the President. Figure 19-3...

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Marxist Provisions in “Medicare for All”

]]> This post refers to four bills entitled “Medicare for All”: two introduced in the previous Congress (S.1804, H.R.676) and two bills recently introduced in the current Congress (S.1129, H.R.1384).  Although few people have actual read them, they are popular and enjoy enthusiastic support.  The bills’ titles give the impression that they are merely opening up the U.S. Medicare program to all ages. The titles belie the actual text.  Closely following Marxist principles, the “Medicare...

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