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Daily Archive for September 10th, 2010

Inside the Sausage Grinder, or the Essence of Rules

Posted in incentives, Politics on Sep 10th, 2010

Actually, we don’t get to see it! They just pick up the factory and machine and take it to a private coffee shop. On the agenda over espressos and lattes, according to more than a dozen lobbyists and political operatives who have taken part in the sessions, have been front-burner issues like Wall Street regulation, […]

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Medical Licensure and Medical Output

Posted in Health Care, Regulation on Sep 10th, 2010

In yesterday’s discussion, we examined how it is possible for medical licensing to be responsible for a lower average quality in the medical profession than would prevail in a world without licensure. Today, I hope to explain briefly another consequence of medical licensure. This idea comes from a phenomenal paper by Harold Demsetz called, “Barriers […]

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