Petron and the Healthcare Debate::The public option as a signal – Paul Krugman Blog – NYTimes.com

When petron was a government owned company, they were able to distort the supply curves because they were in essence the regulatory arm of the government. If the outcry was large enough shell and caltex may increase their prices but petron’s price does not move. What’s interesting in the case of the philippines is that petron was sold to foreign interests and afterwards the oil industry was deregulated. Double whammy to the Filipino people. Our government does not have the balls and probably the manpower to effectively police what is in effect price collusions of oil industry players. The solution is string institutions but I guess that is near impossible for us right now. Buy back petron would be second best with the least amount of complications, although where we are going to get the money, I don’t know. Maybe a few of Pres GMA’s entourage could chip in!

The public option as a signal
Look, it is possible to have universal care without a public option; Switzerland does. But there are some good reasons for the prominence of the public option in our debate.
One is substantive: to have a workable system without the public option, you need to have effective regulation of the insurers. Given the realities of our money-dominated politics, you really have to worry whether that can be done — which is a reason to have a more or less automatic mechanism for disciplining the industry.
via The public option as a signal – Paul Krugman Blog – NYTimes.com.

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Best Read:The Joy of Less – Happy Days Blog – NYTimes.com

I’m no Buddhist monk, and I can’t say I’m in love with renunciation in itself, or traveling an hour or more to print out an article I’ve written, or missing out on the N.B.A. Finals. But at some point, I decided that, for me at least, happiness arose out of all I didn’t want or need, not all I did. And it seemed quite useful to take a clear, hard look at what really led to peace of mind or absorption (the closest I’ve come to understanding happiness). Not having a car gives me volumes not to think or worry about, and makes walks around the neighborhood a daily adventure. Lacking a cell phone and high-speed Internet, I have time to play ping-pong every evening, to write long letters to old friends and to go shopping for my sweetheart (or to track down old baubles for two kids who are now out in the world).
via The Joy of Less – Happy Days Blog – NYTimes.com.

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Hey Paul Krugman

Timothy F.
Image via Wikipedia


lyrics from nyt freakonomics blog here:
Hey Paul Krugman,
Why aren’t you in the administration?
Is there some kind of politicking that I don’t understand?
I mean, Timothy Geithner is like some little weasel.
Wasn’t he in a position of power
when all this sh*t went down in the first place?
When I listen to you, things seem to make sense
When I listen to him, all I hear is blah, blah, blah.
Hey Paul Krugman,
where the hell are ya, man?
‘Cause we need you on the front lines
not just writing for The New York Times.
I’d feel better if you were calling some shots
instead of writing your blog and probably thinking a lot.
I mean, don’t you have some influence?
Why aren’t you secretary of the Treasury?
For God’s sake, man, you won the Nobel Prize.
Timothy Geithner uses TurboTax.
When I listen to you, things seem to make sense.
When I listen to him, all I hear is blah, blah, blah.
Hey Paul Krugman, where the hell are ya, man?
(Obama Breakdown)
Sing it with me!
When I listen to you, things seem to make sense.
When I listen to him, all I hear is blah, blah, blah.
Hey Paul Krugman, where the hell are ya, man?
Your country needs you now.

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rePost:Is It?:Is the Waiting Room Necessary? – Freakonomics Blog – NYTimes.com

Image representing New York Times as depicted ...
Image via CrunchBase

The problem is not waiting but actually not knowing how long the waiting would be. I think the doctor could actually try to implement gathering of patient statistics. I imagine that when you get appointments you already have a reason to go. The doctor could aggregate patient data on how long it takes per procedure and the variance with respect to each patient. This would help the doctor in estimating more accurately how feasible is the appointments for the day.
I agree with ML(17) and Saumya. I would like to add that if the waiting room was designed to have activities that were well suited to how long the average waiting time is. They need to make waiting rooms more activity centered rather than waiting/magazine reading centered!.

Is the Waiting Room Necessary?

I spent 40 minutes waiting to begin diagnostic tests preparatory to seeing my ophthalmologist. What a waste of my valuable time! And my calculations from data from the American Time Use Survey suggest that this is a standard problem: the average adult American spends four hours per year waiting for medical or dental care, with each wait averaging around 45 minutes.
Pricing this time out at even half the average wage rate, the cost amounts to about $5 billion per year. Seems like a lot, and very inefficient, but what is the alternative?
The only way that every medical provider could ensure no waiting would be for the provider to have downtime herself, in order to have unutilized resources, both of her time and the services of the capital stock used in the practice. I’m not sure what’s the right mix of provider and customer waiting; but as annoying as my waiting is, the current system may be economically efficient.
via Is the Waiting Room Necessary? – Freakonomics Blog – NYTimes.com.

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Great Quote:Success:Quotes Uncovered: Did Emerson Define Success? – Freakonomics Blog – NYTimes.com

from freakonomics blog at nyt:

“He has achieved success who has lived well, laughed often, and loved much; who has enjoyed the trust of pure women, the respect of intelligent men and the love of little children; who has filled his niche and accomplished his task; who has left the world better than he found it, whether by an improved poppy, a perfect poem, or a rescued soul; who has never lacked appreciation of earth’s beauty or failed to express it; who has always looked for the best in others and given them the best he had; whose life was an inspiration; whose memory is a benediction.”
via Quotes Uncovered: Did Emerson Define Success? – Freakonomics Blog – NYTimes.com.

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Learned Today: Popularity~Success:The Economic Value of Popularity – Freakonomics Blog – NYTimes.com

Sofie_white
Image by peterjaena via Flickr

Thanks to Tyler Cowen of Marginal revolutions for the pointer here, I think his points are interesting and quite valid.
AS for my views.; There is a certain rhythm to interacting with people. There is a certain rhythm in being friends with people. Honestly I had to learn that whole thing in college. Compare the highschool me and the me now, I was socially inept and something of jerk. Now I’m still a jerk, less socially inept , but this is mainly because I learned the types of people that I can interact well with.
And that is I think the thing, Because I am less scared with social interactions now I tend to meet more people now than I used to. I have to credit the understanding that people tend to be good. This knowledge help me to be less afraid of going to situations where interactions were totally not in my control.
How did I gradually become less socially inept?
-Striking up conversations with random people. Helped overcome this fear of talking with people. For me this is easier because I can make myself believe that even if I say something stupid, we are not going to see each other again.
-Striking up conversations with people not really part of your circle of friends but you see relatively often. After having a feel for small talk try talking with people you normally encounter, this may include the office security, custodians, or office mates from different departments.
-Going to clubs(not night clubs, hobby clubs etc)/meetups/organization. This might mean volunteering for something, or doing something together like hobbyist events. You get to meet like minded people, and chances are good that you have at least one topic of common interest!
-Reconnecting with peole form the past. This may mean a simple poke in facebook, or a private message in one of the tens of hundreds of social networks now existing. From personal experience this is best done when combined with actual face to face time. Like if you saw someone at a mall or a grocery but you can’t talk for some reason, or its his/her birthday. From the experience of a friend you may freak out some people if you suggest meeting up to catch up on old times, so this I believe is best done when there is an excuse, like homecoming etc.
-Face to Face meetups are important to personalise increasingly mobile/online connections. This must be done with care because as I stated earlier you may freak out some people. If you are meeting people you used to know well but has since lost touch with; best if you leave you old impressions of him or her ot turn your filter down a little. Remember that change is constant and some people reinvent themselves constantly. If you are meeting someone for the first time my advice would be leave your prejudice or what I call isms at home. Don’t judge people automatically or if you can’t do that at least try to act friendly towards everyone, Its easy to cutoff connections with people Its hard to create connections so don’t let superficial things get in the way of a possible real (not just online) friendship.
hope the few notes help my imaginary reader! have any more advice for people who are socially inept???

They find that each extra close friend in high school is associated with earnings that are 2 percent higher later in life after controlling for other factors. While not a huge effect, it does suggest that either that a) the same factors that make you popular in high school help you in a job setting, or b) that high-school friends can do you favors later in life that will earn you higher wages.

The Economic Value of Popularity – Freakonomics Blog – NYTimes.com.

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Right To Live-Wedding Ring Freakonomics

Sean Penn
Image via Wikipedia

We must revise our views and accept they way people want to live. This is especially true for cases that does not entail an adverse effect against any thing but our sensibilities. We must not deny people the right to find their happiness if it does not directly affect our happiness in any meaningful way.  Part of me hated making Sean Penn win the Best Actor award at the 81’st Academy Awards for political reasons (Mickey Rourke was really that good!), and I feared that it may be the reason the Slumdog Would lose the Best Picture awards, TGFT. But prop * was California’s black eye and till they find a way to redeem themselves they would always feel shamed with what they weren’t able to prevent!

My Wedding Ring
By Ian Ayres
With great joy, I decided to put my wedding ring back on my finger this past weekend.
I had stopped wearing my ring because I was slightly embarrassed to live in a state where people like my sister couldn’t marry the people they love.
But I have no reason now to be embarrassed on this score, because on Friday the Connecticut Supreme Court struck down the statutory exclusion. You can read Justice Palmer’s opinion here. (Disclosure: An amicus brief was filed in the case on behalf of me and other Connecticut law professors, and my spouse, Jennifer Gerarda Brown, was the co-author of another amicus brief.)
My Wedding Ring – Freakonomics – Opinion – New York Times Blog.

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rePost : Needs to be Broadcast, Why Aren't You Ashamed Of Yourselves!: Grasping Reality with Both Hands: Gregory Clark Is Chairman of the Department of Economics at the University of California at Davis

University of California, Davis

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Gregory Clark Is Chairman of the Department of Economics at the University of California at Davis
Greg Clark writes:
Dismal scientists: how the crash is reshaping economics: The current recession has revealed the weaknesses in the structures of modern capitalism. But it also revealed as useless the mathematical contortions of academic economics…. The debate about the bank bailout, and the stimulus package, has all revolved around issues that are entirely at the level of Econ 1. What is the multiplier from government spending? Does government spending crowd out private spending? How quickly can you increase government spending? If you got a A in college in Econ 1 you are an expert in this debate: fully an equal of Summers and Geithner. The bailout debate has also been conducted in terms that would be quite familiar to economists in the 1920s and 1930s. There has essentially been no advance in our knowledge in 80 years.
It has seen people like Brad DeLong accuse distinguished macro-economists like Eugene Fama and John Cochrane of the University of Chicago of at least one “elementary, freshman mistake.”
Well, Greg? Don’t be shy. Be brave! Tell us: Is Fama right? Does the NIPA savings-investment identity guarantee that the stimulus cannot work because of 100% crowding out? Or has he made an elementary, freshman mistake?
Greg goes on:
Bizarrely, suddenly everyone is interested in economics, but most academic economists are ill-equipped to address these issues. Recently a group of economists affiliated with the Cato Institute ran an ad in the New York Times opposing the Obama’s stimulus plan. As chair of my department I tried to arrange a public debate between one of the signatories and a proponent of fiscal stimulus — thinking that would be a timely and lively session. But the signatory, a fully accredited university macroeconomist, declined the opportunity for public defense of his position on the grounds that “all I know on this issue I got from Greg Mankiw‘s blog — I really am not equipped to debate this with anyone”…
Grasping Reality with Both Hands: Gregory Clark Is Chairman of the Department of Economics at the University of California at Davis.

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