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March 30th, 2010

Pamela Anderson, take note: The age of enormous, fake breasts is over. At least, according to the London Times, which reports today that, thanks to the fashion pioneering of Victoria Beckham and a recent embrace of natural curves, the days of the boob boom are over. (more)

March 23rd, 2010

When it comes to our economy, where are we going, and why are we in this hand-basket? That’s a question worth answering before Congress reauthorizes legislation to boost government investment in science and technology and, in turn, manufacturing. (more)

March 3rd, 2010

Houston is one of my favorite cities—I have relatives there, one of whom is a petroleum engineer; the city has the best barbeque in the world, and some of my favorite baseball memories come from Astros games at the former Enron Field. As such, it’s no surprise that I don’t like Jeff Skilling, one of the principle culprits of the Enron collapse and the subsequent economic downturn of Houston. (more)

February 26th, 2010
The debate surrounding the massive health care system overhaul that has been raging in Washington leaves one thing clear: Redesigning roughly one-seventh of the economy is no simple task. The massive 2,000 page health care reform bills recently passed by both houses of Congress—currently languishing in Scott Brown limbo—represent an ambitious effort to reorder the “rules of the game” in health care in order to achieve dramatically different results. The goals of the plan, as described by President Obama in his state of the union address, are to “bring down premiums, bring down the deficit, cover the uninsured, strengthen Medicare for seniors, and stop insurance company abuses.” While these are admirable goals, the challenge for government is to structure a set of relationships, including incentives, to achieve these goals. A reasonable question arises: Is government the best mechanism by which to structure the incentives that control health care?

The problem is that the participants in the health care market generally aren’t concerned with achieving the noble goals of these bills. Instead, each participant—doctors, insurance companies, hospitals and individual patients—are more interested in their own narrow interests. This “What’s in it for me?” attitude is quite common among mere humans and, and makes the risks of such a massive and complex reform daunting. Utilizing the government to reorder priorities in the health care system may not be as easy as some think. Get the incentives wrong and the outcomes can be disastrous. (more)

January 12th, 2010

A friend recently sent me a photograph that neatly sums up the infantilization of the West during the last half-century.  It was taken in 1941, at the height of the Blitz, the German aerial assault that dropped millions of incendiaries and tens of thousands of tons of bombs on British cities from Plymouth to Sheffield.  The nightly bombings killed 40,000 civilians and, in London alone, hit more than a million buildings.  The scale of destruction is almost unthinkable in modern Britain or America. (more)

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