SpaceX launched its huge Super Heavy-Starship mega rocket on its seventh test flight Thursday, successfully "catching" the first stage booster back at its firing stand but losing its new-generation Starship upper stage spacecraft, which apparently broke up as it was reaching space. Falling debris from the destroyed Starship briefly delayed airline traffic out of Miami, Florida, federal officials said.
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Donald Trump wants to create 'Freedom Cities.' The Federal Government owns more than half of Oregon, Utah, Nevada, Idaho, and Alaska and nearly half of California, Arizona, New Mexico, and Wyoming.
The vast majority of this land is NOT parks.
The vast majority of this land is NOT parks.
Why would the federal government own so much land?
There is plenty of land to build new cities that could be adapted to new technologies such as driverless cars and drones.
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80% of the top 100 Lowell Putnam Math Competition scores are from MIT.
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There is plenty of land to build new cities that could be adapted to new technologies such as driverless cars and drones.
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80% of the top 100 Lowell Putnam Math Competition scores are from MIT.
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Our industrial civilization has lasted roughly 300 years (dating, for example, from the beginning of mass production methods and power sources). This is a small fraction of the time we have existed as a species, and a tiny fraction of the time that complex life has existed on the Earth's land surface.
Amazingly, economists, historians, sociologists, and philosophers can look at that tiny sliver and generalize.
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Healthcare Costs
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Healthcare Costs
An interesting article on health costs after the strange murder of the United CEO:
Insurance companies just don’t make that much profit. UnitedHealth Group, the company of which Brian Thompson’s UnitedHealthcare is a subsidiary, is the most valuable private health insurer in the country in terms of market capitalization, and the one with the largest market share. Its net profit margin is just 6.11%:
That’s only about half of the average profit margin of companies in the S&P 500. And other big insurers are even less profitable. Elevance Health, the second-biggest, has a margin of between 2% and 4%. Centene’s margin is usually around 1% to 2%. Cigna Group’s margin is usually around 2% to 3%. And so on. These companies are just making very little profit at all.
if UnitedHealth Group decided to donate every single dollar of its profit to buying Americans more health care, it would only be able to pay for about 9.3% more health care than it’s already paying for. If it donated all of its executives’ salaries to the effort, it would not be much more than that.
Americans’ much-hated private health insurers are paying a higher percentage of the cost of Americans’ health care than the government insurance systems of Sweden, Denmark, and the UK are paying. The only reason Americans’ bills are higher is that U.S. health care provision costs so much more in the first place.
Elizabeth Warren has claimed that switching to national health insurance would save huge amounts of money by reducing administrative costs. But when we look at United Health Group’s operating costs, they’re only 22.6% of the actual cost of medical care.
In fact, the Kaiser Family Foundation does detailed comparisons between U.S. healthcare spending and spending in other developed countries. And it has been concluded that most of this excess spending comes from providers — from hospitals, pharma companies, doctors, nurses, tech suppliers, and so on.
This means that eliminating all administrative waste and inefficiency in the entire U.S. health care system — not just at insurance companies, but administration of government insurance programs — could save Americans at most about $680 per person every year, and probably not anywhere close to that amount. A few hundred bucks a year is not nothing, but it’s only a small fraction of the $5683 more that we pay relative to other countries.
So the fundamental reason your health care costs so much is not that the health insurance companies are lining their pockets. And it’s not that insurers are an inefficient mess. It’s that the actual provision of America’s health care itself just costs way too much in the first place.
The actual people charging you an arm and a leg for your care, and putting you at risk of medical bankruptcy, are the providers themselves.
So the way to make our health care system affordable is not to browbeat insurers, in the hope that they will be able to reduce their profits and pay for us to have cheap health care. Insurance companies simply do not have the power to do that, even if you threaten to shoot them. What we need is to reduce costs within the actual medical system itself. One idea is to have the government insurance system play hardball with providers; negotiating lower prices is what the Biden administration had Medicare do with some drug companies. There are some risks to this approach — if it’s executed clumsily it can suppress innovation — but it’s basically what every other rich country does, so the track record is decent. There are probably other ways to foster competition and increase efficiency in the medical care system.
But focusing all our anger on the middlemen of the U.S.’ bloated health care system is just a way of shooting the messenger.--Noah Smith
Insurance companies just don’t make that much profit. UnitedHealth Group, the company of which Brian Thompson’s UnitedHealthcare is a subsidiary, is the most valuable private health insurer in the country in terms of market capitalization, and the one with the largest market share. Its net profit margin is just 6.11%:
That’s only about half of the average profit margin of companies in the S&P 500. And other big insurers are even less profitable. Elevance Health, the second-biggest, has a margin of between 2% and 4%. Centene’s margin is usually around 1% to 2%. Cigna Group’s margin is usually around 2% to 3%. And so on. These companies are just making very little profit at all.
if UnitedHealth Group decided to donate every single dollar of its profit to buying Americans more health care, it would only be able to pay for about 9.3% more health care than it’s already paying for. If it donated all of its executives’ salaries to the effort, it would not be much more than that.
Americans’ much-hated private health insurers are paying a higher percentage of the cost of Americans’ health care than the government insurance systems of Sweden, Denmark, and the UK are paying. The only reason Americans’ bills are higher is that U.S. health care provision costs so much more in the first place.
Elizabeth Warren has claimed that switching to national health insurance would save huge amounts of money by reducing administrative costs. But when we look at United Health Group’s operating costs, they’re only 22.6% of the actual cost of medical care.
In fact, the Kaiser Family Foundation does detailed comparisons between U.S. healthcare spending and spending in other developed countries. And it has been concluded that most of this excess spending comes from providers — from hospitals, pharma companies, doctors, nurses, tech suppliers, and so on.
This means that eliminating all administrative waste and inefficiency in the entire U.S. health care system — not just at insurance companies, but administration of government insurance programs — could save Americans at most about $680 per person every year, and probably not anywhere close to that amount. A few hundred bucks a year is not nothing, but it’s only a small fraction of the $5683 more that we pay relative to other countries.
So the fundamental reason your health care costs so much is not that the health insurance companies are lining their pockets. And it’s not that insurers are an inefficient mess. It’s that the actual provision of America’s health care itself just costs way too much in the first place.
The actual people charging you an arm and a leg for your care, and putting you at risk of medical bankruptcy, are the providers themselves.
So the way to make our health care system affordable is not to browbeat insurers, in the hope that they will be able to reduce their profits and pay for us to have cheap health care. Insurance companies simply do not have the power to do that, even if you threaten to shoot them. What we need is to reduce costs within the actual medical system itself. One idea is to have the government insurance system play hardball with providers; negotiating lower prices is what the Biden administration had Medicare do with some drug companies. There are some risks to this approach — if it’s executed clumsily it can suppress innovation — but it’s basically what every other rich country does, so the track record is decent. There are probably other ways to foster competition and increase efficiency in the medical care system.
But focusing all our anger on the middlemen of the U.S.’ bloated health care system is just a way of shooting the messenger.--Noah Smith