Category Archives: America

US Has Over 6,000 hospitals. Only 1,300 Are Private For-Profit Institution

America, Capitalism, COVID-19, Free Markets, Government, Healthcare

If you imagined America has a free market in medicine, read “Diagnosis: opaque: Donald Trump wants hospitals to be more upfront about prices”:

The country has over 6,000 hospitals. Only 1,300 or so are private for-profit institutions; the rest are non-profit or government-run. The lack of an overt profit motive has done little to rein in prices, however. Hospital costs have risen at an annual rate of close to 5%, compared with below 1% for drug prices. … Nor has a charitable mission dampened the ambition of bosses at big hospital chains; seven-figure salaries are not unheard of at those with revenues exceeding $500m a year. They have also been on an acquisition binge. The number of deals has jumped from around 55 a year between 2002 and 2009 to 90 or more these days. Since 2018 non-profit hospitals have been the acquirers in three-quarters of the transactions.

How do government-run or subsidized hospitals engage in the capitalistic act of mergers?  They do so on the backs of taxpayers. Profits are privatized; losses are socialized. This is the stuff of cronyism.

Free market medicine we do not have. Before Coronavirus, Trump was looking to reform the nation’s hospitals.

MORE:

“Diagnosis: opaque: Donald Trump wants hospitals to be more upfront about prices”

* Image courtesy The Economist.

There Is More Cronyism Than Capitalism In Corporate America (Boeing? Oink, Oink)

America, Business, Capitalism, Economy, Free Markets, Globalism, Labor, Trade

In “Why Tax Breaks Won’t Stop High-Tech, H-1B Human Trafficking,” I explained how, “The H-1B visa racket,” like so much of the rent-seeking global, corporate America does, “is … a taxpayer-subsidized, grant of government privilege. Duly, profits remain private property. The costs of accommodating an annual human influx are socialized, borne by the bewildered [American] community.”

the corporations that hog H-1Bs act like incorrigibly corrupt rent seekers. Not only do they get to replace the American worker, but they get to do so at his expense.

Here’s how:

Globally, a series of sordid liaisons ensures that American workers are left high and dry. Through the programs of the International Trade Administration, the Export-Import Bank, the Overseas Private Investment Corporation, the International Monetary Fund, and other oink-operations, the taxpaying American worker is forced to subsidize and underwrite the investment risks of the very corporations that have given him the boot.

Domestically, the fascistic partnership with the State amounts to a subsidy to business at the expense of the taxpayer. See, corporations in our democratic welfare state externalize their employment costs onto the taxpayers.

MORE in “Why Tax Breaks Won’t Stop High-Tech, H-1B Human Trafficking.

Now, via Washington Examiner’s “When foreign airlines go under, US taxpayers could be stuck with the bill” comes quite a positive description of the sordid liaisons and transactions on the backs of American taxpayers:

Subsidizing Boeing jets has generally been the Ex-Im Bank’s main activity. Typically, about 40% of all its financing supports Boeing exports. That’s why the agency has earned the nickname “Boeing’s Bank.”
As a result, airlines in China, Turkey, Bangladesh, Canada, Mexico, and all over the world have benefited from U.S. taxpayer-backed financing to buy Boeing jets in recent years. Many of them still owe their lenders, meaning the U.S. taxpayer is still exposed via the Ex-Im Bank. There’s a decent chance some of those foreign airlines will default on some debt payments. That could result in the Ex-Im Bank having to make the creditors whole.

There is more cronyism than Capitalism in the operation of the giants of corporate America.

UPDATE:  Just desserts.

The Response To Date To Coronavirus In America: Just The Facts, Ma’am

America, Asia, China, Communism, Critique, Globalism, Government, Healthcare

“By March 1st, when South Korea had run 100,000 tests for the virus, America—which saw its first case on January 23rd—had run fewer than 500.
… a single undiagnosed case can, in principle, give rise to more than 3,000 cases six weeks later.”

Like it or not, The Economist is the gold standard of news gathering; of data analysis. But I guess, my own mind disdains a partisan approach to truth, which is patent in the approach to all things in the USA, coronavirus too.

Writes the Economist:

… in America the response to date has been a shambolic missed opportunity. Shockingly, the worst American bungling has more in common with the catastrophic early stages of the Chinese epidemic—when officials minimised risks and punished truth-tellers, thus letting the disease spread much further and faster than it might have—than with the country’s later co-ordinated control efforts. …

Take America. On February 25th Larry Kudlow, chief economic adviser to President Donald Trump, told reporters that “We have contained this. I won’t say airtight, but it’s pretty close to airtight.” As he spoke a cluster of cases at a care facility in Washington state was showing that America’s public-health agencies had been caught flat footed. Test kits made available by the Centres for Disease Control and Prevention (CDC) were faulty; restrictions were limiting tests in other settings. By March 1st, when South Korea had run 100,000 tests for the virus, America—which saw its first case on January 23rd—had run fewer than 500. …

… “Test and you shall find,” says Gabriel Leung of the University of Hong Kong, who was also on the WHO team. “You either test and find it early, and do something about it, or the body bags are going to pile up,” he adds. …

… In South Korea, by contrast, the government is being forthright and formidably transparent, allowing Koreans to trace their possible brushes with the disease. As well as briefing the press thoroughly twice a day, and texting reporters details of every death, the government puts online a detailed record of each new patient’s movements over previous days and weeks …

…China is now making 116m face masks a day, 12 times the production a month ago, with 1.7m of them the high-performance sort that health-care workers need when faced with patients coughing and sneezing. A General Motors joint venture in south-western China is making both its own disposable face masks and face-mask-making machinery for the many other companies doing the same. There are no precise figures for the production of tests, but the number carried out suggests that it, too, has soared.

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I wonder when production will be brought home, for future posterity and prosperity—ILANA MERCER

 

* Image courtesy of The Mirror.

 

UPDATED (7/11/020): Education: UK & US Much More Radically Egalitarian Than Europe

America, Britain, Conservatism, Education, Egalitarianism, Europe, Intelligence

The two Anglo-American countries, as I have surprisingly come to realize, are fundamentally more radical on many fronts than the Europeans.

Take education. Germany has a “The three-tiered German education system—which sorts children on the basis of ability at the age of ten into either university-preparatory schools or vocational ones.” It “has always been criticized for fostering social segregation.” (The Economist: “The dignity of all the talents: A battle over gifted education is brewing in America.”)

The impetus to “to eliminate separatism in secondary education” began in … you guessed it, England and America, where the very idea that some individuals are more intelligent than others is anathema, apparently.

“The debate over whether education of gifted children segregates them on the basis of pre-existing privilege rather than cognitive ability is neither new nor uniquely American. The number of selective, state-run grammar schools in Britain reached its zenith in 1965, before the Labour government of Harold Wilson embarked on a largely successful effort “to eliminate separatism in secondary education”.

In New York City, Bill de Blasio, the city’s left-wing mayor, wants to eliminate what he deems unjust programmes and school screening for gifted and talented students. … “Mr de Blasio floated the idea of scrapping the entrance test and admitting the top 7% of students from each middle school (roughly, for pupils aged 11 to 14) to specialised schools. … One problem is that at some middle schools this would include students who had not passed the state maths exam. This infuriated many Asian parents, who do not see why their children should be punished for studying hard.” Or, for being more intelligent.

An astonishing 40% of high schools in the city do not teach chemistry, physics or upper-level algebra, notes Clara Hemphill, the founding editor of InsideSchools, an education-policy website. “The problem is not learning linear algebra in schools, but not knowing arithmetic.” …
… Only 6% of high-school pupils attend one of the eight sought-after specialised high schools. Because admissions are based on high-stakes tests …

“Some advocates yearn for an egalitarian model like Finland’s—where comprehensive schools and a focus on special education (or disabilities) rather than giftedness coincide with high rankings on international measures such as PISA scores.”

I suspect Finland is so much more homogeneous a society, down to its education system, than the US.

“But even in Finland, more than 10% of upper-secondary schools (those before university) are specialised. Other attributes, such as high education spending and extreme selectivity of applicants to become teachers (only 10% make it), are probably also critical to the education system’s success. Removing programmes for the gifted will not suddenly turn New York into Finland.”

* Image courtesy Stuyvesant High School, for the gifted, 345 Chambers Street, New York (Photo By: Susan Watts/NY Daily News via Getty Images)

MORE: “The dignity of all the talents: A battle over gifted education is brewing in America.”

UPDATE (7/11/020):