Financial Crisis!?!?!?!?!

In an attempt to stabilize the economy, the U.S. government has taken some significant actions.  Let’s recount.  The government has taken over Fannie Mae and Freddie Mac.  Combined assets: $5 trillion.  The government has “rescued” Bear Stearns by backstopping questionable assets valued at $29 billion.  The government has given a loan to AIG for $85…

Writing Tips for Ph.D. Students

John Cochrane gives writing tips for Ph.D. students.  One of the key insights it the following: “Many economists falsely think of themselves as scientists who just “write up” research. We are not; we are primarily writers. Economics and finance papers are essays. Most good economists spend at least 50% of the time they put into…

Economical Writing

Soldiers have their gun, musicians their instrument and economists their pen.  Deft writing can elucidate the most esoteric economic ideas; poor writing is boring and impenetrable. Although few realize it, writing is the economist’s trade. Deirdre McClosky’s Economical Writing is an entertaining, practical guide for any social scientist.  Below is a list of some the…

Lack of physician peer review

The Running a Hospital blog notes that a physician peer review system is absent in most hospitals.  Physicians are only critiqued when something goes wrong.  However, this need not be the case. “Our Chief of Neurology, Clif Saper, originated a thoughtful practice… The doctors in his department do randomly assigned reviews of the case notes…

Age Inflation

Medicare was implemented in 1965 to cover the medical costs of the oldest members in society.  In 1965,  the U.S. life expectancy was only 70 years old.  Now, however, life expectancy at birth is over 78 years.  Medicare is now not just covering the oldest of the old, it also covers the “moderately” old since…