Pope Francis’s Failure to See Entrepreneurs as Good Samaritans Undercuts the Poor »

On April 25, a videotaped talk by Pope Francis was released at the international TED conference in Vancouver, Canada. The 18-minute talk, titled “Why the Only Future Worth Building Includes Everyone,” can be viewed here. Francis highlighted three themes, beginning with the observation that community is central to human existence: [L]ife flows through our...
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I, Peach: A Lesson in Comparative Advantage »

As part of my lunch today, I enjoyed a big, ripe, sweet, firm peach. “So what?” you may be asking. Well, my doing so is more remarkable than one might think. You see, I live at the extreme end of the road, near a remote, isolated village in the farthest southeast corner of the...
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Quality Competition Without Third-Party Payers »

In those healthcare markets where third-party payment is nonexistent or relatively unimportant, providers almost always compete for patients based on price. As I wrote in my recent book, Priceless: Curing the Healthcare Crisis, where there is price competition, transparency is almost never a problem. Not only are prices posted (e.g., at walk-in clinics, surgicenters,...
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Healthcare Entrepreneurs: Unleash the Innovative Caregivers »

Although we often associate the term entrepreneur with profit seeking, the healthcare field is teeming with innovators who are largely motivated by altruism. As I wrote in my new book Priceless: Curing the Healthcare Crisis, take Dr. Jeffrey Brenner of Camden, New Jersey.* In any other field, Brenner would be a millionaire, but because...
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How Third-Party Payers Crush Entrepreneurs »

In complex systems, there are always unmet needs and problems to be solved. The more dysfunctional the system, the more numerous are the unmet needs and the more severe are the problems. In other sectors, needs to be met and problems to be solved are the fertile ground from which entrepreneurs emerge. Where is...
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Obama’s Business Comment . . . »

Many readers will be aware that last week in a speech President Obama said “If you’ve got a business—you didn’t build that. Somebody else made that happen.” There have been many comments on this already—most of them I’ve seen have been negative—but I’m still going to add a few words, because I find the...
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Manuel F. Ayau (1925-2010) »

With great sadness, I convey the news I have just received that Manuel F. Ayau died yesterday. Known to his friends as Muso, Ayau was one of the greatest persons I have had the privilege to know. I am not given to hero worship, but I do not hesitate to affirm that, to me, Muso...
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Sir John M. Templeton: The Passing of a Visionary »

On July 8th, our dear friend Sir John M. Templeton passed away at the age of 95. We deeply share the sadness of this loss with the many people worldwide who have had the pleasure of knowing and working with him. On October 1, 1998, we had the distinct privilege of hosting our gala...
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