A comprehensive All-Payer Claims Databases would help the health care system become more effective and efficient. The Department of Labor could do something about that, but hasn’t. Merrill at GoozNews is depicting why providers and software vendors closely guard patient information, maintaining exclusivity so as patients have to rely on them. Insurance companies follow suit so as to maintain the frequency and particularity of care for disease,...

Let’s compare apples to apples here. Originally Published at Wealth Economics Uncle Joe has thrown out this 8.2% figure a couple of times, including in last night’s SOTU. Multiple folks have unpacked it; it’s not the standard “tax rate” measure. The usual “tax rate” is taxes divided by personal income, which doesn’t include accrued holding gains. The alternative that Joe’s using is based on Total “Haig-Simons” income, which does include...

Gatekeepers of the economics profession The power structures within the profession reinforce the mainstream in different ways, including through the tyranny of so-called top journals and academic and professional employment. Such pressures and incentives divert many of the brightest minds from a genuine study of the economy (to try to understand its workings and the implications for people) to what can only be called “trivial pursuits.” Too many top...

While this post is not MMT, it is consistent with MMT and implies that MMT is needed to address the issues that stem from wrong assumptions about the relationship of economics, finance, money and banking, as well as the mistaken view that money is neutral, being only a veil over what is at bottom a barter economy under the veneer of a monetary economy.While MMT doesn't deal directly with the relationship of economics and power, being an institutional approach is incorporates the role of...

February jobs report: the Household Survey is downright recessionary, while the Establishment Survey is decidedly mixed  – by New Deal democrat In the past few months, my focus has been on whether jobs gains are most consistent with a “soft landing,” i.e., no further deterioration, or whether deceleration is ongoing; and more specifically:  Whether there is further deceleration in jobs gains compared with the last 6 month average,...

Yours truly — ett porträtt Lars Syll har en blogg som läses av många runtom i världen och är även aktiv på Twitter, två anledningar bakom hans placering på listan bland världens mest inflytelserika ekonomer. På bloggen växlar han mellan att skriva på de fem språk han kan, svenska, franska, tyska, italienska och engelska och beskriver sig själv som en renässansmänniska som vill nå ut med flera budskap … — Som akademiker har vi tre uppgifter, att undervisa,...

The Hidden Cause of Crash

Uncovering Revolutionary Roots of Austrian Economics

Labour power as a common-pool resource: in memory of Paul Burkett Human mental and physical capacities to work have elastic but definite natural limits. Those capacities must be continuously restored and enhanced through nourishment, rest, and social interaction. Over the longer term that capacity for labour also has to be replenished by a new generation of young people, reared by the previous generation. It is this combination of definite...

Admiral, Captain Ronny Jackson was demoted and was not too happy about it. I think he deserved it. After reading the Inspector General’s report, it should have happened sooner. Admiral Ronny as compared to Admiral “Bull” Halsey? Hmmm/ Navy demoted Ronny Jackson after probe into White House behavior, msn.com, Dan Diamond. The worst job I had in the Marines was having to chase prisoners to the Brig. Most of the time it was because of drugs. They...