Two Years Ago Today


How’s Obamacare workin’ out for you?

Homeopathic Economics

Originally posted on 30 July, 2012

Homeopathy is a form of quackery that bases medical treatment on the idea that stuff which makes well people sick will make sick people well. Obamacare is, among its many faults, a form of homeopathic economics.

Consider the effect of the Medical Device Excise Tax on unemployment. It’s a basic principle of economics that if you tax something, you’ll get less of it. That’s one of the justifications for the taxes on tobacco products. So if we tax medical devices, we should expect that the demand for them will go down (to the extent that it is elastic) or that manufacturing will contract because of the increase cost (to the extent that demand is inelastic) creating shortages. Either way, the costs to consumers go up and the need for employees at device manufacturers goes down.

Only an economic homeopath would think that doing something that kills jobs in a good economy will expand employment in a weak economy.

Oh, and the tax has the effect of raising the cost to consumers for medical devices. Again, only an economic homeopath would believe that increasing the cost of goods saves money.

Is it November yet?

Ebola


Tom Clancy wrote a novel about ebola used as a biological warfare weapon. As Mary Katherine Ham writes, we may be on the verge of seeing what happens if the virus moves into a densely populated area. Lagos, a city with more than 20 million people, has now had a case.

Dr. Kent Brantly is an American physician who has contracted ebola while treating patients in Africa. He is there working with Samaritan’s Purse.

VA Healthcare


John Fund takes a look at government run healthcare as typified by the VA and other single-payer systems.

The veterans’ hospital scandals now in the news in the United States show just how bad things can get when the pressure of patient demand and waiting lists affects bureaucratic behavior.

The efficiency of the Post Office and the bedside manner of the IRS maybe a best-case scenario for Obamacare.

Read the whole thing.