Tag: Price Control
Higher Minimum Wage Leaves Working Poor Without Childcare
Oakland’s voters who approved the March 1 increase of the minimum wage to $12.25 apparently drank the Kool-aid that it would “help the poor.” Tell that to the working poor parents who will now be scrambling to find good, affordable child care: Workers who benefit from Oakland’s minimum wage hike might soon lose a...
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Airline Deregulation Act of 1978
President Jimmy Carter signed the Airline Deregulation Act on October 24, 1978. That law phased out the Civil Aeronautics Board (CAB) over the next four years, ending five decades of federal regulation of passenger airfares on interstate commercial flights and entry into the airline industry. One of prime movers behind this first legislative initiative...
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Medicare Fees: The RUC Is Bad, but There’s No Point in Regulating It
Politico recently ran an interesting story on the Relative Value Scale Update Committee – the “RUC” – a body convened by the American Medical Association that fixes the fees that Medicare pays physicians. It describes the absurdity of a committee of physicians fixing fees that the government pays physicians, and demonstrates how the RUC...
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Dining with Stalin
“In the socialist commonwealth every economic change becomes an undertaking whose success can be neither appraised in advance nor later retrospectively determined. There is only groping in the dark. Socialism is the abolition of rational economy.” —Ludwig von Mises When I was driving to work earlier this week, I heard a fascinating story on...
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New Video with Ron Paul: “Defining Liberty: The Future of Freedom”
How can Americans overcome record government spending and debt, escalating healthcare costs, intrusive federal surveillance, endless wars, ongoing economic malaise, high unemployment, failing schools, and increasing abuses of civil and economic liberties? In this superb, new video from the recent, sold-out event sponsored by The Independent Institute and The Smith Center for Private Enterprise...
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Is There an Argument—Any Argument—for Community Rating?
I’ve never seen an intelligible argument for community rating. I think I know why. I’m afraid there isn’t any. Don’t believe me? I’ll tell you what I’ll do. I let you pick any recognized ethical system in the entire history of Western philosophy. (Only Western? Yeah, we’re not cultural relativists here.) Altruism, Egoism, Nietzschean...
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Price Transparency: What To Do and What Not To Do
I’ve written about sky-high hospital prices in this blog, especially for uninsured patients who present at emergency rooms. A related issue is price transparency. In most normal transactions, it is not hard to discover the price you will pay for a good or service. Indeed, for most ordinary items, prices are posted and we...
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Obamacare Will Not Prevent Hospitals from Overcharging
In two recent posts I discussed out-of-control prices for hospital services, especially emergency-room care. In the first, I argued that sky-high hospital prices are the result of government interference. In the second, I cheered the fact that consumer-driven health plans are inducing hospitals (ever so gradually) to be more upfront with patients (at least,...
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Venezuela’s Price Police
The Venezuelan government’s war on price inflation is not a metaphorical one—last weekend President Maduro, who owes his title to April’s rigged election, ordered the military takeover of Daka, a chain of electronic stores, and the arrest of several managers from that and other retail companies. The rhetoric employed by Maduro was inevitably interpreted...
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A Woman May Die Because of Obamacare
For the past 20 years I have been trying to convince my colleagues in the health policy community that managed competition contains perverse economic incentives. These incentives do more than misallocate resources. They create ominous risks for the health and safety of patients with serious medical conditions. Consider the editorial in Monday’s Wall Street...
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