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

Capital, Labor, and Modernization

Many years ago, I had a Cultural Anthropology professor who discussed the glories of the mechanical cherry-picker. The only catch was that (1) it had upfront and maintenance costs and (2) it performs less well than experienced cherry-pickers. In short, it would be useful if you have a shortage of labor and an excess of […]

Why Healthcare is So Expensive Part MMDCLVI

by Tom Bozzo, cross-posted from Marginal Utility Competition in (increasing) service quality doesn’t reduce costs: Dane County’s two hospitals that deliver babies are each spending close to $40 million to spruce up maternity units and related facilities for a simple reason: Young women are key health care consumers, often deciding where their families will seek […]