A conversation with Peter Orszag

with Peter Orszag
in Current Affairs
on Monday, June 15, 2009 * * * * *

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A conversation about with Peter Orszag, Director of the Office of Management and Budget under President Barack Obama

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speech
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healthcare

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  • Comments 2
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    1. tartufe  06/16/2009 05:14 PM Report

      Free market principles, perhaps. Free markets per se are a myth. Can think of no form of govt that's not for sale, a la lobbying or straight up bribery. As mythical as laissez faire capitalism. Both exist only in economists models.

      Apropos of nothing, this guy came off as engaged and with-it.

    2. REMant  06/16/2009 01:06 PM Report

      I really think the diff in costs is simply due to what diff mkts will bear, and this is set by incomes as in every other business. In aggregate the rise in prices has followed the rise in price of everything else not mfrd in China, or able to be done by migrant workers, and that, of course, is due mainly to inflation, which in turn is due to unbalanced budgets and an "unbalanced" currency. To a large extent they were the result of papering over rather than correcting the growing disparities in wealth that inflation created in a vicious circle, not unlike operating a Ponzi scheme. One side argues that there is a moral hazard in welfare, and the other side that there is in poverty, but what both fail to recognize is that the situation was created by excessive debt giving the illusion of wealth and distorting its distribution. If investment had to come from savings instead, just the same as if the Federal government were required to balance its budget, then it would undoubtedly be possible for health care and many other things to be operated under free market principles fairly and efficiently.

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