Doug Casey Predicts Day of Economic Reckoning Is Near

It is a deal with the devil: Governments churn out more and more cash for the promise of continued prosperity. But the day of reckoning is near, according to Doug Casey, chairman of Casey Research and an expert on crisis investing. As the epic battle between inflation and deflation continues, Casey discusses his . . . → Read More: Doug Casey Predicts Day of Economic Reckoning Is Near

American Medicine is Sick

First, here’s this:

Cancer-busting chemotherapy can cause damage to healthy cells which triggers them to secrete a protein that sustains tumour growth and resistance to further treatment, a study said Sunday.

Researchers in the United States made the “completely unexpected” finding while seeking to explain why cancer cells are so resilient inside the human . . . → Read More: American Medicine is Sick

Correcting Markets

From the Mises Institute:

And so began the downward trend in America’s free market in medicine. With fewer medical schools — and thus fewer doctors — wages can be kept higher than would exist in a market dominated by free enterprise and the unobstructed entry into practice. Consumers, who ordinarily determine the success of . . . → Read More: Correcting Markets

A Broken Market

The pharmaceutical giant, Pfizer, watched its main source of revenue and profits, Lipitor, lose its patent protection this week, and now faces competition from generic equivalents. In 2010 Lipitor was the second highest selling prescription drug with $5.2 billion in sales in the U.S. alone. (source: Now, in the next year, prices of . . . → Read More: A Broken Market

No Room for Medicare Patients

When I went into solo practice of internal medicine in 1981, it was very easy to get a doctor to see a Medicare patient. All I had to do was make a phone call. A courteous receptionist answered. If the doctor couldn’t come to the phone right away, I could count on a prompt . . . → Read More: No Room for Medicare Patients

Unhappy Dependence Day

In my childhood and teen years, “going to the mall” meant going to the grand expanse stretching from the United States Capitol building to the Lincoln Memorial, with the Washington Monument in the center, bordered by the Smithsonian Institution’s museums and by federal government buildings along Constitution Avenue on the north, and Independence Avenue . . . → Read More: Unhappy Dependence Day

Health Care Consumers

People are bringing up the point that people simply don’t shop for health care. That we’re not consumers. Usually that people are non-economists, like some ER doc who thinks that he had to study for 8 years to become a doc, but that economists are just people with opinions. Or like Paul Krugman, who . . . → Read More: Health Care Consumers

Interesting Readings for December 29, 2010

Since most of us in India can talk about little else other than corruption, do read this article by Nauro F. Campos and Ralitza Dimova on voxEU which is an interesting meta-analysis about papers which analyze the impact of corruption on growth. I have long heard about meta-analysis, but this one made me . . . → Read More: Interesting Readings for December 29, 2010

Mobile phones and economic development

The CMIE Consumer Pyramids data shows that in all their income categories, more than 50% of households have a mobile phone. It is only in their bottom category `Lower Middle Income – II’ that only 37.5% of households have mobile phones. From `Higher Middle Income – III’ upwards, the incidence is above 80%. If . . . → Read More: Mobile phones and economic development

Simple Blood Test May Soon Be Able to Diagnose Brain Tumors

In the U.S. today, approximately 360,000 people have brain cancer. In 2002, 40% of the 40,000 patients diagnosed with this disease died within one year. Brain tumors are the second leading cause of cancer-related deaths in children under the age of 20 as well as men under the age of 39. In women between . . . → Read More: Simple Blood Test May Soon Be Able to Diagnose Brain Tumors