The Biggest Original Sin in Our Health Gear System

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The biggest original sin i see now in our health cure system is o cross subsidies. The government wants to provide for poor people and other people and doesn't want to make them pay wor old people. So what the government does is it tells hospitals, for example, you must treat everybody who walks in the emergency room. We are just forcing hospitals to post prices. They have to cross subsidize the medicare medicate that doesn't pay anything like what it costs from something else. That's why your and my health care, you and me don't need health insurance. We would get far better care, far cheaper, much more medical innovation than we do now. You and me cal be

What unites John Cochrane the finance economist and “grumpy” policy blogger with John Cochrane the accomplished glider pilot? For John, the answer is that each derives from the same habit of mind which seeks to reduce things down to a few fundamental principles and a simple logical structure. And thus, piloting a glider can be understood as an application of optimal portfolio theory, and all of monetary policy can be made to fit within the structure of a single equation.

John joined Tyler to apply that habit of mind to a number of puzzles, including why real interest rates don’t equalize across countries, what explains why high trading volumes and active management persist in finance, how the pandemic has affected his opinion of habit formation theories, his fiscal theory of price level and inflation, the danger of a US sovereign debt crisis, why he thinks Bitcoin will eventually die, his idea for health-status insurance, becoming a national gliding champion, how a Renaissance historian for a father and a book translator for a mother shaped him intellectually, what’s causing the leftward drift in economics, the need to increase competition among universities, how he became libertarian, the benefits of blogging, and more.

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Recorded January 4th, 2021 Other ways to connect

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