Turkish Hospitals

In Turkey, the number of private hospitals has expanded from 250 in 2006 to 375 in 2008. Healthcare Europa reports that Turkish private hospitals previously charged whatever prices they pleased.  The government health insurance plan would pay the basic rate to the private hospitals, and the patient would be responsible for any difference between the…

Bailout: A Stimulus Plan for Lobbyists

The economic stimulus plan is looking to spend money on “shovel ready” infrastructure projects.  Even though stimulus bill funds have not yet been spent, fiscal policy has already generated increased economic activity in one sector: lobbying. NPR’s Marketplace reports that Washington lobbyists earned a record-breaking $3.2 billion last year. Sheila Krumholz, Executive Director for the Center for…

Obama’s Address to Congress

While President Obama’s speech to Congress had many components, I’m going to focus on those related to health care.  I will also comment on the Republican response. OBAMA ADDRESS I applaud the President for specifically addressing the need for health care reform. “…we can no longer afford to put health care reform on hold. We…

Procrastination

Ph.D. students have one goal: finish your dissertation.  While this may seem like an easy task, it is one that is difficult and takes many years to complete.  A dissertation in economics is made up of 3 chapters (usually  3 separate papers).  Why does it take some grad students 7 years, 8 years or more…

Limitations of the “Science” of Economics

From Nobel Prize winner Friedrich A. Hayek’s “Pretence of Knowledge” Speech. “Unlike the position that exists in the physical sciences, in economics and other disciplines that deal with essentially complex phenomena, the aspects of the events to be accounted for about which we can get quantitative data are necessarily limited and may not include the important…