The health industry’s problem with Medicare for All When it comes to Medicare for All—Bernie Sanders’s policy to turn the government into America’s one and only healthcare payer and save us from a profit-driven healthcare system—the people pocketing the $3.6 trillion Americans spend on healthcare every year foresee some problems with it. Here is the logic as told to me: Let’s say Medicare for All gets passed. The new rule would simplify billing and reduce costs immediately. There would also be an opportunity to shift to a more value-based, preventative healthcare model. However, it would kill off a significant number of jobs. The health insurance industry employs roughly 500,000 people, per the New York Times, which says nothing of the large numbers of administrative people hired in doctors’ offices and hospitals. Economist Robert Pollin estimates the job losses from such a shift would be 2 million. Critics of this argument say that perhaps it … [Read more...] about Can high-tech capitalism fix the healthcare industry?
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Maharashtra Chief Minister Uddhav Thackeray met Prime Minister Narendra Modi here on Friday, his first visit to the national capital after taking over the reins of the state. The chief minister's son Aditya Thackeray, who is a minister in his cabinet, also accompanied him. … [Read more...] about Uddhav Thackeray meets PM Narendra Modi
Which brings us to the book under review. Banerjee and Duflo’s latest book is Good Economics for Hard Times. It is a topical book written in response to burning issues of the day. The authors write, “Inequality is exploding, environmental catastrophes and global policy disasters loom, but we are left with little more than platitudes to confront them with. We wrote this book to hold on to hope. To tell ourselves a story of what went wrong and why, but also as a reminder of all that has gone right. A book as much about the problems as about how our world can be put back together, as long as we are honest with the diagnosis. A book about where economic policy has failed, where ideology has blinded us, where we have missed the obvious, but also a book about where and why good economics is useful, especially in today’s world.” … [Read more...] about Review | Nobel laureates Abhijit Banerjee, Esther Duflo’s new book presents poverty and migration in new light