Should low quality hopsitals be given more or less money?

Recently, the San Diego Union Tribune reported that the Sharp Grossmont Hospital in eastern San Diego county was cited for a number of preventable deaths. Reporter Cherl Clark found numerous problems, which included: “staff members restraining a highly medicated, 25-year-old man with schizophrenia in such a way that he was allowed to suffocate. In addition,…

What to say in economics seminars

Justin Wolfers writes in the Freakonomics blog that economists should limit their objections during academic seminars to a list of comments to make discussions of research papers more efficient. Here are some of my favorite: Adam Smith said that. Unfortunately, there is an identification problem which is not dealt with adequately in the paper. The…

I.O.U.S.A.

The U.S. is in a huge amount of debt. This will only worsen in the short- to medium-term as the the baby boomers retire and Medicare and Social Security budgets balloon. Here’s a movie about it. “This country has started consuming more than it produces.” – Warren Buffet

The Health Wonk Review is up

The latest edition of the Health Wonk Review is up at Workers Comp Insider. Here are some of my favorite posts from the HWR: David Williams’ Health Business Blog on the WSJ’s investigative reporting (a newspaper actually used the words “standard error”…amazing!) Bob Laszewski’s HC Policy and Marketplace Review on the UK’s NHS decision to…

Closing the (Happiness) Inequality Gap

Income inequality has generally increased since the 1970s. Even for researchers who find that income inequality has Does this mean that happiness inequality has also increased? An NBER working paper by Betsey Stevenson and Justin Wolfers claims that this is not the case. Below is the a portion of the abstract. While there has been…

Why did the post office lose $1 billion?

The International Herald Tribune reports that the U.S. Postal Service has posted a $1.1 billion dollar loss in the past quarter. What are the reasons for this huge loss? First, total mail volume is down 5.5% from last year, likely due to the economic slowdown and the gradual increase in internet communication over time. Also,…