The bottom-up capitalism of Elizabeth Warren

I have lived and worked in Europe in past years, and we still visit regularly. Contrary to the views of Americans who never have traveled there, “classic capitalism” is alive and well in small communities across supposedly “socialist” northern Europe, and they are often far healthier than many U.S. communities of similar size. Small-business entrepreneurship is commonly evident and the… Read more »

The “giant cash suck” of healthcare – part 2

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In a prior post I introduced my view that we are not paying enough attention in the healthcare discussion to the top-line “giant cash suck” that causes U.S. healthcare costs to be over twice the per-capita level of many countries that achieve true universal coverage while delivering equal or better outcomes. In this second part, I will explore where much… Read more »

The “giant cash suck” of healthcare – part 1

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Michigan

What do the great cathedrals of Europe, the Las Vegas “Strip” and an impressive new hospital in economically-challenged northern Michigan have in common? They all answer the question, “Who controls the big cashflow here?” I have been struck in awe visiting many Old Europe cathedrals, but I also have been troubled by the “real history” of the stark contrast between… Read more »

The helpless gun violence theodicy of “thoughts and prayers”

In a recent post I looked at the theodicy expressed or implied by people as they sought to explain some “larger meaning” in hurricanes and other natural disasters. Theodicy is literally “the justice of God,” or figuratively the broader question of “Why do bad things (or good things) happen in this world?” That latter interpretation has come to include both… Read more »

Hurricane Dorian: Wishin’, hopin’, thinkin’ and prayin’

Dorian-Saturday

Residents of Florida’s Gulf Coast (where I live) have woken up on Saturday morning to find their prayers answered, as Hurricane Dorian’s projected path has taken a sharp right turn. Fervent prayers from Florida’s northern Atlantic coast, on the other hand, are apparently still stuck in limbo. Those sentences are an expression of theodicy, “the justice of God,” or the… Read more »

Marginal investors and the sport of curling

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I have long compared professional investment advising to the sport of curling. The financial market is this heavy stone sliding down what seems like an inexorable path toward some destined end. But instead of the sport’s two sweepers trying as a team to influence the “curl,” or the direction of that stone, the capital markets employ tens of thousands of… Read more »