Reducing Cost And Improving Quality

The market for medical care does not work like other markets. Providers typically do not disclose prices prior to treatment because they do not compete for patients based on price. Payments are usually not made by patients themselves but by third parties – employers, insurance companies or government.

The Trouble With Harry

Article I of the Constitution gives Congress broad public policy powers, and Article II defines those of the president. Congress fully understands that its constitutional powers are more or less …

Martin Wolf

Hatton W. Sumners Distinguished Lecture Series

Chief Economics Commentator, Financial Times of London and former Economist with the World Bank

Reforming the U.S. Poverty Standard

Policy experts expect the next administration to make major changes in the way the federal government measures poverty. The current poverty standard is an outmoded, 40-year-old measure that is adjusted each year for inflation. It does not account for all of a family's income or living expenses. Many poverty experts support changing the poverty standard. But how should that be done?

Regulating Work in Confined Spaces

Since its inception in 1970, the federal Occupational Safety and Health Administration (OSHA) has been criticized for imposing large costs on businesses while producing only minimal improvements in workplace safety. OSHA is now required to show that the benefits of a proposed regulation outweigh the costs of complying with it. However, OSHA’s cost-benefit analysis is often flawed.

Measuring the Unfunded Obligations of European Countries

Europe is undergoing two major transitions. On the demographic front, many European countries are undergoing rapid population aging as their Baby Boom generations enter retirement, senior citizens live longer and fertility rates remain well below the population replacement level. On the economic front, 15 European countries have adopted the euro as a common currency, eliminating the ability to use monetary policy to achieve country-specific economic goals. Both transitions will place tremendous, conflicting pressures on the domestic national budgets of European countries.