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”

I Have A Holiday Wish: That We Muster The Courage To Reign In National Spending.

WENDY LYNCH

Originally published 12/14/2010 on the Health and Human Capital Foundation Blog.

‘Tis the season to wonder how to work off the extra pumpkin pie calories and pay off those Black Friday purchases! We know that a dollop of reality isn’t anyone’s holiday favorite, but it may be timely for all of us to acknowledge the belt-tightening our country must face as we approach the New Year. If social spending cuts in EnglandGreece, Spain, Germany and other countries are any prediction (12), some would argue that we are late in taking action. Is there hope that we’ll wake up and realize that now is the time to start trimming our national spending—even as we trim our tree—by making tough, necessary choices?

Continue reading “I Have A Holiday Wish: That We Muster The Courage To Reign In National Spending.”