I am not saying that I agree with Bruce Bartlett about this, but do feel that Medicare Proscription D has cost American patients more than they ever received in benefit. I, a User of the great program, find that Drug companies have raised Prices without restriction, Insurers have raised premiums without restriction, and most Patients are simply paying about the same as before; but with Drug companies and Insurers subsidized by the Government. I would need an extreme amount of data and extensive time to integrate the data into a model, but I have the inherent suspicion that these two groups simply guaranteed their usurious Profits from the Proscription D program. I will suggest that these industries are making about a 8% overall Profit because of it and totally from it. This was probably Why there was such classic Arm-Twisting to force the Vote.
Arnold Kling, with his gift of snaring the correct component, has outlined the real failing of Stimulus. The modern Business structure has isolated them from pressures exerted by both Customers and Labor; Arnold utilizes the fancy name of organizational capital. What Business need Today is Lenders and technology. Consumer Demand remained generated by Consumer needs, with a disrupted market provisioning replacement of any discouraged Consumers; this means Anyone who is angry with the presented Product. Business purchases specialized Help for specific Projects, minimizing their Labor Costs, and letting Labor depart after the specific programming is done. It is the reason that Business is so concerned about the restrictions on financial resources, which must fund their business organization based upon only business management–terribly overpriced in the market, when evaluated within the context of introduction of Inputs into the Production process.
I decided to finish with this article, as it highlights a major problem, but even more so freedom from regulation; at a point where traditional Common Standards of Decency exert no impact. Shipping has always been a major Polluter, and any regulation of this Pollution means huge Costs for both Shippers and Fuel Suppliers. The former will have to supply much more expensive engines, while the later will lack a traditional source of disposal of corrupted fuels. Complete Burning of Carbon emissions present higher fuel Costs with the same contribution of Greenhouse gasses to the atmosphere. I personally favor Wind production of Electricity for propelling Ships, at great advantage to both atmosphere and fuel Cost; the problem here is increasing the Travel times of Shipping, which would have to fall back to the traditional 8-Knot speed of Sail, rather than the current 28-Knots of current Cargo-carriers. How likely is it that We will revert to previous modes of travel, considering the modern focus of Business management? lgl