With the passage of Medicare in 1965, President Lyndon Johnson opined “No longer will illness crush and destroy the savings that [older Americans] have so carefully put away over a lifetime.” As the demographics of this country expand the pressures on our slowly growing economy, payment for an expensive illness response system may indeed crush … More Medical Care As We Know It In The US Is Unsustainable.
On April 6th, I spoke to the Marathon County community on the Affordable Care Act. This talk was sponsored by the Wisconsin Institute for Policy and Service at which I am a Senior Economics Fellow. You may view the entire presentation, including introductions and Q & A, through the following youtube video.
In previous blog postings (here and here), I have addressed some of the key myths regarding international trade as well as the difficulties in determining whether U.S. exchange rates are over, under, or fairly valued. This posting addresses how the forces that drive globalization have changed and so has the distribution of income (in both … More A Second Globalization Features The Great Convergence