Relevant and even prescient commentary on news, politics and the economy.

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Sensible Tax Reform

…harder to implement. In the United States, uniquely among nations, about eight percent of all employment is in the non-profit sector. Why? In substantial part, because for over a century…

Who Committed Excess Borrowing?

…similar (shades of blue) lines—but they are all household and non-profit data. (The growth in “credit market instruments” is, presumably, primarily driven by the non-profit sector.) Note also—as Rusty would…

Accounting for Scott Sumner

…to the US government of bailing out the big banks is more likely to be a profit than a cost. Clearly he doesn’t read angry bear much, as I have…

Crouching Lieberman, Smoking Gun

…executive salaries to profit would have to come out of a fixed ratio of premium dollar to actual payments to providers with that ratio set by the Health Choices Commissioner….

More on the CMS Report

…treat Medicare patients makes no difference at all. OK so ospitals, including for profit hospitals, are not profit maximizing entities (I think no firms are). However, I don’t think that…

Marginal Cost

…making the master copy (you know of making the movie) is a fixed cost. The profit maximizing price for a product is a function of marginal not average cost. OK…