Does the government record and store every single phone call made in the U.S.?
California is refusing to tell anyone how much it is spending implementing ObamaCare.
Drug discovery has slowed down.
Can hospital price transparency make us worse off?
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First link: This is a throwback to Cheney and his Terrorist Surveillance Program. The TSP basically authorized domestic spying, especially the encouragement for private companies to help store transmitted data.
The NSA actually demanded approval from the supreme court before they would implement it. Cheney and his OLC (John Woo and other soulless autocrats) told them to get bent and go ahead anyway.
I’m a little curious about last link. Information Asymmetry for CEOs or car sales are mildly different than health care markets. Not to mention that while transparency might initially raise rates, once they reach equilibrium — they’ll begin to fall again. Minute clinics are a fair example.
The whole point is to actually know how much things cost. That requires transparency.
I honestly feel sorry for the bureaucrat who has to monitor my
Back in the early days, the NSA physically tapped the root telephone lines. They have access to the whole she-bang! Big surprise?
@California, the truth can be painful, yes? Just wait until the dust settles in a few years. Just wait until those figures have to be released.
@ Drug Discovery has slowed down
Well, I don’t fully agree with that article, perhaps, yes in the US it has slowed down, but biomedical innovations are taking place through out the emerging world.
The field of behavioral economics has largely proved that people do not make rational decisions. In fact, people are bounded by their rationality (Simon). Giving the average person, or any person, more information will not solve the problem in and of itself.
@ Government storing phone calls
I must say, I wouldn’t be surprised that they have the ability to do so, that said, I don’t think they are running after every single calls because the kind of capital needed for that is very high.
If a hacker can do it, so can the government. I am sure China is already doing this to control their citizens!
@ Drug Discovery Slowed Down
Okay, perhaps the drug industry is getting the blues at the moment, they will eventually get back to it.
“Does the government record and store every single phone call made in the U.S.?”
– This would not surprise me. While I do not support this practice, I feel that there are probably too many calls for them to care about the non-importance of my calls.
Heuristics means P=quality, which isn’t true (but some people still believe it). The lack of transparency in vertical markets leads to
Q^dm < Q^m = increased prices. Assuming that people never act rationally is tantamount to asking for a nanny state. So while we do see inefficiencies in other markets, like Harley said, the minute clinics kinda support the fact that price transparency is important for people. Which is rational.
Deeming how inefficient large-scale government really is, I don’t see how this could be the case. Even if so, they wouldn’t be able to do much with all that recorded info, assuming they have an efficient way to store it and categorize it. Hope such wasteful spending isn’t the case on this one, on top of a liberty issue at hand.
“Can hospital price transparency make us worse off?”
Nothing transparency can make something worse off. The issue at hand is that it wouldn’t do much to solve our problems at the core.
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