Shutterstock American physicians dole out lots of unnecessary medical care to their patients. They prescribe things like antibiotics for people with viral infections, order expensive CT scans for patients with transitory back pain, and obtain screening EKGs for people with no signs or symptoms of heart disease. Some critics even accuse physicians of ordering such…
My son was underperforming at school, and I was gently encouraging him to try harder (if gesticulating like an over caffeinated Italian qualifies as gentle encouragement). He could not understand why I was upset: “Dad, most of my friends are doing drugs and engaging in unprotected sex. You should be rewarding me for being such…
A recent article in the Minneapolis Star and Tribune, my former hometown newspaper, made the kind of statement that is all too common in popular reporting on behavioral economics: “The idea that we humans are not that smart comes from behavioral economics.” Really? Behavioral economics discovered stupidity? Irrationality? The limits of human intelligence? That is…
Imagine that you are gasping for breath, literally on the verge of death. Then someone injects you with a medicine and – miracle! – you are perfectly healthy again. Would you pay $300 for that injection? The treatment is epinephrine; your illness was a life-threatening allergy. And that $300 price? That reflects a six-fold increase…
In the United States, the FDA tried to mandate that cigarette companies put nasty images of the harms of smoking onto cigarette packages, images that would take up at least half of the carton. It looks like that effort has failed, because the courts have determined that it violates the First Amendment. I wonder what…