Thursday, August 20, 2009

My Daily Domestic Diigolet 08/20/2009

  • The teen age years are a new invention of modern times and they actually hold young adults back. Newt Gingrich has an interesting take on this.

    tags: education

  • tags: no_tag

    • This is magical thinking. Obama, talented as he is, can't repeal the laws of supply and demand. Costs are real. If they are incurred, someone has to pay them. But as economist Thomas Sowell points out, politicians can control costs -- by refusing to pay for the services.

      It's called rationing.

  • Lesson in logic 101

    tags: obamacare

    • There's is reason to be concerned about end-of-life counseling, but the truth is more complicated. Here's the story.

      The House bill does deal with the issue. (The Senate Finance Committee bill did until the provision was removed the other day.) Section 1233 amends the Medicare law to add "advance care planning consultation" (counseling about living wills and the like) to the list of reimbursable services. The provision defines "consultation," but nowhere does it require Medicare beneficiaries to participate or authorize death panels. (Grassley voted for a similar provision in 2003 when his Republican-controlled Congress added drug coverage to Medicare.)

    • But even if some conservative Republican critics are wrong about Section 1233, there is good reason to worry about Obama's nationalization scheme.
    • The reason can be found in Econ 101. Medical care doesn't grow on trees. It must be produced by human and physical capital, and those resources are limited. Therefore, if demand for health care services increases -- which is Obama's point in extending health insurance -- prices must go up. But somehow Obama also promises, "I won't sign a bill that doesn't reduce health care inflation."

Posted from Diigo. The rest of my favorite links are here.

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