North Korea

On Saturday, we visited Odu Mountain Unification Observatory near the North-South Korean border.  It's perched atop a mountain about 30 miles outside Seoul along the DMZ.  It's one of several places South Koreans can check on their northern neighbor.

To actually peer inside this hermit country was fascinating, even if it was from afar.  I have some cool photos posted on my other blog.

Click here to see them.

Price Check on Aisle Three, Please

Imagine, for a moment, grocery shopping where everything is (nearly) free.  You casually peruse the aisles of your favorite store loading up on anything and everything.  You pick more expensive name brands over cheaper generic brands, and fill your cart with more than you need.  But who cares?  It’s all free.  At the checkout, you plunk down $20 dollars and your membership card.  That’s it!

This scenario would, without question, lead to the overconsumption and decreased supply of food.  Without the price system to guide you into making wise choices, you over-consume.  You have no incentive otherwise.  This is our healthcare system.

In the absence of the price system, Americans over-consume healthcare.  Most of us pay an annual premium and then a small co-pay at the doctor’s office.  It matters not if I have one test run or 100 – my co-pay remains the same.  And because my premium adjusts only once per year, any correlation between usage and costs is vague at best.  In fact, my premium continues to rise despite my consumption of healthcare.

So, despite everyone’s constant lament that we spend 15% of GDP on healthcare, this fact is no surprise to me.  Incentives matter, and without the price system to shape our choices, we will continue to over-consume and pay ever higher premiums.

Election Day

Well, to say I'm disappointed would be an understatement.  My guy didn't win, but I don't think Ron Paul ever had much of a chance.

The wise Texas congressman did have some perceptive thoughts on the outcome though.  Mr. Paul said, "The only winner tonight is the status quo."

My thoughts exactly.

Free Market Miracles

Are you tired of missing your delivery from Amazon?  Concerned about theft?  Not to worry.  Simply tell Amazon to ship your package to your local Staples store.  Staples will store it in a locker, and you can drop by at your convenience and pick it up. 

 

Just another illustration of the free market hard at work for you.  

Link to story here