Low Interest Rates: The Addictive Policy Drug of Choice

This piece was originally posted on the Lawrence Economics blog in 2012.  This version has been updated in many places; however, the effects discussed in that posting remain a major concern today.  Political pressure to not only keep interest rates low but to lower them further seem unstoppable, especially since the eventual economic consequences are not … More Low Interest Rates: The Addictive Policy Drug of Choice

Modern Monetary Theory (MMT): Not Modern, Nor Purely Monetary, Nor a Coherent Theory

The theory, such as it is, has two primary claims: Countries that print their own currencies need not default on excess debts. Inflation in the end can and must be controlled by raising taxes or cutting spending, sufficiently to soak up such printed money. Based on these claims, MMT advocates conclude that the US need … More Modern Monetary Theory (MMT): Not Modern, Nor Purely Monetary, Nor a Coherent Theory

Health Care Optimism

A number of pundits, including Jack Hough in a recent column in Barrons, believe in an optimistic future for health care in America.  They opine that some combination of market forces and the power of innovation will rescue this country from our outsized expenditures on medical care.  I too believe in market forces and the … More Health Care Optimism

Energy Innovation and Carbon Dividend Act of 2019

Recently, I joined the Citizen’s Climate Lobby (CCL) which backs the Energy Innovation and Carbon Dividend Act of 2019. This bipartisan piece of legislation introduces a carbon fee that rises each year. The proceeds are distributed to American households on a lump sum basis, similar to the process used for the Alaska oil dividend program. … More Energy Innovation and Carbon Dividend Act of 2019

Fox Valley Health Care Transformation Initiative

On Wednesday, I addressed the Noon Hour Philosophers audience on why the Fox Valley needs to change how health care markets work here and indicated several potential reform initiatives.  The audience of roughly 85 people heard an update on the talk I gave at Lawrence in October.  Below I provide an overview of the talk.  … More Fox Valley Health Care Transformation Initiative

Presentation on Fox Valley Health Care

The Fox Valley HC Presentation 2.1 highlighted three key observations: Observation 1: Medical costs in the Fox Valley are unsustainable and unaffordable for many residents. Observation 2: Local healthcare systems lack transparency and are unaccountable. In our opinion, unelected “elites” serve their institutions rather the community at large. Observation 3: Local health care system and delivery … More Presentation on Fox Valley Health Care