"Considerations of Cost Disease"

A long but interesting look at exactly which parts of our economy have seen the steepest rise in prices over the last several decades. The author concludes that our understanding of which ones, and why, is at best very imcomplete. Regarding medicine, the field in which he works, he mentions that part--but only part--of the problem is this:

A patient goes to the hospital with a heart attack. While he’s recovering, he tells his doctor that he’s really upset about all of this. Any normal person would say “You had a heart attack, of course you’re upset, get over it.” But if his doctor says this, and then a year later he commits suicide for some unrelated reason, his family can sue the doctor for “not picking up the warning signs” and win several million dollars. So now the doctor consults a psychiatrist, who does an hour-long evaluation, charges the insurance company $500, and determines using her immense clinical expertise that the patient is upset because he just had a heart attack.


"Political Economy Of The Jobs Report"

There is an interesting table here. It compares "payroll jobs created" under Trump to the same length period at the end of Obama's presidency. We've heard a lot recently about where the increases are, but the three sectors with the largest declines under Trump compared to Obama are as follows: retail trade--at least partly due, I expect, to Amazon, leisure and hospitality--I've got no idea--and government, federal, state, and local. The latter is interesting but tricky since I saw a piece that claimed a lot of goverment employment is currently "off the books" in variouis outsourcing schemes. But that aside, it could be encouraging news.


"Why The Latest NCAA Lawsuit Is Unlikely To Change Its Amateurism Rules - But Should"

When it comes to the economics expert witnesses, the NCAA has far more throw-weight.

The plaintiffs bring to the case two economists in Dr. Roger Noll and Dr. Daniel Rascher. To counter, the NCAA has retained its own accomplished economists in Dr. James Heckman and Dr. Kennith Elzinga.

But you can never tell. I looked at an antitrust case years ago in which one side presented an affadavit by a future Nobel Prize winner and other superstars of the profession, and the other side's expert witness was an unknown--at least to me--economist. The other side won, in large part because the judge felt the superstars testimony was boilerplate, not at all specific to the case at hand and also that said experts did not, the judge felt, answer questions well, while the unknown guy was quite specific and responsive.


"Verizon's ultra-fast 5G Home internet service will begin rolling out October 1st, and will offer download speeds 10 times faster than the US average"

Maybe. I've seen promises like this before. But . . . maybe this time will be different.

Verizon says that customers of the new service, Verizon 5G Home, "should expect typical network speeds around 300 Mbps and, depending on location, peak speeds of nearly 1 Gbps, with no data caps." In short, Verizon 5G Ha 1 GB file in 28 seconds.ome customers should typically expect extremely fast internet speeds.

1 Gbps translates to 1,000 Mbps, which would let you download a 1 GB file in eight seconds, which is incredibly fast. Even the 300 Mbps speeds that customers should typically expect is fast, allowing customers to download