Tag: incentives
Lessons from the Dirty Streets of San Francisco
If you ask most people, the way the government is supposed to work is simple. The people identify a problem they want the government to fix. The government hires and deploys people to fix it, using tax dollars to pay them to get the job done. Problem solved! Except that’s not what happens. More...
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Want a Happier, Healthier, and More Prosperous Society? Try Freedom, Innovation and Incentives
“I will promote freedom at all costs,” is the first line of the Draper University pledge. Draper University of Heroes is a school I created to encourage people with ideas and energy to pursue their visions through entrepreneurship and risktaking. For an entrepreneur, freedom matters most. The ability to try new things without government...
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Medicare Changes Have Reduced Hospital Readmissions, but More Reforms Are Needed
In 2012, Medicare began to penalize hospitals that readmitted too many patients. For a small number of targeted conditions, the program compares actual readmissions within 30 days to what an acceptable readmission rate should be. This measure is an important part of the drive to “pay for value, not volume.” The problem it was...
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Racehorses and Circus Animals—Stifle Your Outrage
Flipping channels the other day, I came across an ad for SeaWorld. Instead of showing images of flipping dolphins, laughing children, and Shamu the killer whale, the commercial was more of a PSA. Instead of its typical advertising, the spot consisted of discussions about how the organization cares for its animals and their lifespans....
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How Perverse Incentives Affect Healthcare Behavior
Imagine a system in which health plans offer networks of doctors and hospitals in return for fixed premiums. People who are seriously ill and need specific, expensive medical treatment will select in a very different way from other people. As I discuss in my book Priceless: Curing the Healthcare Crisis, take a heart patient in...
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Economics of Police Brutality
Here are a few thoughts on the economics of apparent police brutality and media portrayals thereof: 1. Judiciously edited video can be deceptive. However, I’d be interested in learning the conditions under which a woman being cross-checked by a cop who looks to be about a head taller than her and probably 50-100 pounds...
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