Reforming Not Only How We Pay Physicians, but How Much We Pay Them

Any sensible plan to reform the U.S. health care system must reform the way we pay physicians. Currently, we reward doctors for doing more “stuff” for their patients — for performing tests and procedures whether or not these interventions are necessary. Because of this strange reimbursement system, many primary care physicians receive more money performing…

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Comparative Effectiveness: One Size Doesn’t Fit All

No sooner had the Obama administration committed a billion dollars to comparative effectiveness research than the critics began laying out their concerns: such research is a prelude to rationing, they said; it threatens to thwart doctors’ and patients’ abilities to make their own decisions. It will transfer too much power to government bureaucrats and treat…

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Succulent Sandwiches and Consumable Calories: Who's Counting?

Last summer, New York City made a great stride toward promoting public health, by requiring chain restaurants to prominently publish calorie counts alongside their menus. This type of regulation holds the promise of improving people’s eating habits, without restricting their freedom to order whatever they want. Theoretically, this new regulation should help consumers make better…

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Feeling Conflicted about Greed

With jobs disappearing faster than a major league fastball, the public is understandably irate at the damage that greed has wrought upon our economy. Financiers destroy their companies, and our retirement portfolios, and then complain when their bonuses are less than 7 figures. The greedy behavior in recent headlines has not been limited to Wall…

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Market rationality and hormonal logic

Studying economics in college at the dawn of the Reagan presidency, I learned about the wonders of free-markets. The invisible hand of the market, I read, guarantees that thousands upon thousands of people–each with unique desires, abilities and values–mesh together, thereby able to achieve the balance of work and leisure, and of material and spiritual…