An intro to Twitter for lawyers on the fence about trying it I started using Twitter the day the CA3blog site crashed.
Posted on February 17, by Scott Alexander I got many good responses to my Considerations On Cost Disease post, both in the comments and elsewhere.
A lot of people thought the explanation was obvious; unfortunately, they all disagreed on what the obvious explanation was. Below are some of the responses I found most interesting. So, what is really happening? I think Scott nearly gets there. Things cost 10 times as much, 10 times more than they used to and 10 times more than in other countries.
So where is it going? The number of people it takes to produce these goods is skyrocketing. Labor productivity — number of people per quality adjusted output — declined by a factor of 10 in these areas.
It pretty much has to be that: How can that happen? Our machines are better than ever, as Scott points out. Well, we and especially we economists pay too much attention to snazzy gadgets. Productivity depends on organizations not just on gadgets. Southwest figured out how to turn an airplane around in 20 minutes, and it still takes United an hour.
Contrariwise, I think we know where the extra people are. Most large public school systems spend more than half their budget on administrators. Construction sites have always had a lot of people standing around for every one actually working the machine. But now for every person operating the machine there is an army of planners, regulators, lawyers, administrative staff, consultants and so on.
I welcome pointers to good graphs and numbers on this sort of thing. So, my bottom line: Well, how does bloat come about?
Regulations and law are, as Scott mentions, part of the problem. These are all areas either run by the government or with large government involvement. But the real key is, I think lack of competition.
These are above all areas with not much competition. The main effect of our regulatory and legal system is not so much to directly raise costs, as it is to lessen competition that is often its purpose. The lack of competition leads to the cost disease.
Everywhere we see businesses protected from competition, especially highly regulated businesses, we see the cost disease spreading. And it spreads largely by forcing companies to hire loads of useless people. Yes, technical regress can happen. Productivity depends as much on the functioning of large organizations, and the overall legal and regulatory system in which they operate, as it does on gadgets.
Like our ancestors peer at the buildings, aqueducts, dams, roads, and bridges put up by our ancestors, whether Roman or American, and wonder just how they did it. Before the hedonic treadmill kicks in, and he decides to waste all the money on higher rent and nicer cars, he changes his diet.
And steak is a superior good. But how many times a week will people eat steak? Americans as a whole got really rich in the s and s, and needed someplace to start spending their newfound wealth.
What do people spend extra money on? The Atlantic had a piece on this several years ago, with the following chart:Zodiac Revisited contributor Morf13 has provided the following documents which he obtained earlier this year.
The documents pertain to mitochondrial DNA and hair analysis done on evidence from the Cheri Jo Bates murder. In particular, it was done at the request of the Riverside Police Department in an attempt to incriminate their prime suspect.
A few days ago I addressed the issue of class size in K schools, citing a Campbell Collaboration study claiming that the teacher-student ratio is an insignificant variable in influencing academic outcomes.
Health education is a profession of educating people about health. Areas within this profession encompass environmental health, physical health, social health, emotional health, intellectual health, and spiritual health, as well as sexual and reproductive health education..
Health education can be defined as the principle by which individuals and groups of people, learn to behave in a manner. You raise a good point, with the oil and gas industry in the UK booming with many new large capaital projects coupled with increased focus on platfrom life extension there is an increased requirement for people, which inevitably means an influx of young people with no prior experience into the industry.
Is the CMA Worth It? The CMA exam fees are expensive any way you look at it. However, you must remember first, that the CMA is more affordable than other qualifications like the CPA Exam; and second, if you are pursuing a professional career in accounting and financial management, the certification will benefit you for a lifetime.
Graduated Driver Licensing (GDL) programs allow young drivers to safely gain driving experience before obtaining full driving privileges. and; Full Privilege Stage: a standard driver's license. During the s, many states began enacting GDL laws.
The programs and types of restrictions vary from state to state. Below are some highlights.