Economists Running Amuck

Paul Levy

First published 6/13/11 on Not Running a Hospital

Economists are so embedded in their training with the concept of “ceteris paribus” — “all other things held equal” — that their policy prescriptions often go awry. Here are two recent examples:

First, in the March 10, 2011 issue of the New England Journal of Medicine, David Cutler and Leemore Dafney argue against transparency of pricing in the health care sector.

Continue reading “Economists Running Amuck”