Tuesday, July 31, 2018

Wrap Up for July 2018

"Hospitals are one of the very few places left where you encounter the whole span of society."

"Unfair inequality undermines people's willingness to take risks and work hard."

"Like so much in healthcare, the roots of the drug shortage are complex and seemingly without a simple fix."

"The best we can do is to start experimenting with new forms of institutions and build on those that look promising."

Martin Feldstein: When will the U.S. make the necessary changes for social security? Alas, his Project Syndicate article was more on point, than a recent WSJ article which benefited from some corrections from Scott Sumner.

The slowdown in productivity growth predates the Great Recession.

Sometimes when machines replace labour, there are output gains. But not always.

Timothy Taylor is skeptical about cryptocurrencies.

Before auction processes are completely radicalized (or not), more options for practical auctions could be put to use in the here and now.

As it turns out, there is a lot of sand that does not bind well in concrete.

"Contrary to popular opinion, the low rate of unemployment does not signal a strong labor market."

Given the extensive growth of the state since the Constitution was written, a quest for originalists could be mostly wishful thinking.

"The Medicare Hospital Insurance trust fund is projected to be depleted in 2026, three years earlier than estimated in last year's report."

"A radical book would outline a new means of assigning value", however she was defending the value which she believes should exist.

In a sense we're subsiding firms for using machines rather than labour.

An AEI podcast: "Madison, Hamilton, and the struggle to create a national republic."

Don't expect the 1.1 billion people who still go without, to make the jump straight to clean energy.

Artificial Intelligence, as defined by the Stanford Encyclopedia of Philosophy

Josh Hendrickson asks (in Part I), "How Did the Gold Standard Work?"

When are bureaucracies effective?

The community land trust as a low income alternative.

"One thing about markets is you have to bring the participants together."

Why isn't time taken more seriously, as a part of economic theory?

Asking "Is your pain tolerable?" is a good question. For instance, as someone who has dealt with migraines for more than twenty years; what isn't tolerable, is a level of pain that will not allow either rest or sleep, especially at night. Recuperating after migraines takes less time, if the highest pain levels during the event at least allow one to rest comfortably. Oh, and if I were younger it might be good to think twice before sharing this kind of data.

"Housing is eating the world."

Bridges are important for much more than market access to goods.

Instead of increasing the power of the individual, the age of computers has increased the power of the elite. "Most people are actually at a relative economic disadvantage compared with where they would have been 25 years ago."

Tax increment financing is a poor means of urban renewal.

The Fed remains determined to maintain a "floor" system of monetary control.

Why does it take three different experts with advanced degrees, just to repair a foundation crack in the garage? Plus experts aren't always keen on taking the job, unless it's substantial enough to pay well.

Internships as the new entry level job.

What is the secret to happiness once the robots take over?

Forgetting, as a filter for what is actually important.

The "War on Poverty" is over and hardly anyone even noticed. But does that mean individuals with limited incomes are living normal lives?

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