Comments on: Mad economics, devourer of minds http://blogs.law.harvard.edu/sj/2008/12/21/mad-economics-devourer-of-minds/ Mulching the present to feed the future Tue, 16 Apr 2013 04:40:07 +0000 hourly 1 http://wordpress.org/?v=3.4.1 By: Ralph Hyre http://blogs.law.harvard.edu/sj/2008/12/21/mad-economics-devourer-of-minds/comment-page-1/#comment-40139 Ralph Hyre Sat, 10 Jan 2009 05:46:01 +0000 http://blogs.law.harvard.edu/sj/?p=918#comment-40139 3% is kind of expensive for insurance, but there are plenty of other ways we 'waste' percentages of our GDP. Consider it a lesson learned and encourage people to work on something better. At about the same time in the 1980s, a guy named Richard Stallman, started the open source software movement with his GNU manifesto. We can take that model an apply it to other industries. How about an "open hardware" electric car? Think of other areas where 3% of GDP is wasted - for example insurance company overhead - we could decide to have one insurance company and avoid most of those costs. (3% estimate in Health care is 15% of GDP, and 20% of that is overhead. Medicare overhead is about 10% of what the private sector overhead is.) 3% is kind of expensive for insurance, but there are plenty of other ways we ‘waste’ percentages of our GDP.

Consider it a lesson learned and encourage people to work on something better. At about the same time in the 1980s, a guy named Richard Stallman, started the open source software movement with his GNU manifesto. We can take that model an apply it to other industries. How about an “open hardware” electric car?

Think of other areas where 3% of GDP is wasted – for example insurance company overhead – we could decide to have one insurance company and avoid most of those costs.
(3% estimate in Health care is 15% of GDP, and 20% of that is overhead. Medicare overhead is about 10% of what the private sector overhead is.)

]]> By: Asheesh Laroia http://blogs.law.harvard.edu/sj/2008/12/21/mad-economics-devourer-of-minds/comment-page-1/#comment-38978 Asheesh Laroia Sat, 27 Dec 2008 05:07:49 +0000 http://blogs.law.harvard.edu/sj/?p=918#comment-38978 You wrote, "I have often been disappointed to see classmates with extraordinary talent turn to modern short-term finance and corporate law, jobs that leave no lasting foundation or failsafe for the future discoveries and recoveries of our people." SJ, I just want to say that I felt the same way. You wrote, “I have often been disappointed to see classmates with extraordinary talent turn to modern short-term finance and corporate law, jobs that leave no lasting foundation or failsafe for the future discoveries and recoveries of our people.”

SJ, I just want to say that I felt the same way.

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