On Friday, a desperate China announced another round of interest rate cuts — its sixth such announcement in the past year. Cheered on by Nobel Prize winning economists, and pundits who dream of socialists utopias, governments continue to cling to the follies of central planning, easy money and growing debt.
Of course, not even science fiction can change the hard realities of economics.
Luckily, the resulting chaos that inevitably leads from these disastrous policies creates opportunities for the truth to prevail. Examples can be seen when panicked regulators taking a second look at the benefits of 100 percent reserve banking or the emergence of healthcare providers have broken the shackles of the government-distorted insurance model.
One doctor that has taken that stand is Dr. Michel Accad. A frequent Mises Daily contributor, Dr. Accad joined Jeff Deist this week on Mises Weekends to discuss his experiences as a practicing cardiologist in the Age of Obamacare. If you feel like just a number at the doctor’s office, you’re right: the entire visit culminates in a particular code being entered into the insurer’s database. That code determines how much your doctor gets paid, and it’s all part of a system of bureaucratic overhead and perverse incentives.
If you’re interested in learning about the true state of medicine in a post-Obamacare world, this interview is a must listen.
In case you missed any of them, here are this week’s featured Mises Daily articles and some of our most popular articles at Mises Wire:
- Reflections on Venezuela’s “Economic Miracle” by Andrew Syrios
- Beavis and Butt-Head Take Over Silicon Valley by Paul Cantor
- Star Trek Is Wrong: There Will Always Be Scarcity by Jonathan Newman
- Robert Shiller Is Shilling for Socialism by Peter St. Onge
- New Berlin-Based Master’s Degree Program in Austrian Economics by Ryan McMaken
- Happy Birthday, Ralph! by David Gordon
- The Fed Says No to Pot Money, Unless it’s the Government’s Pot Money by Jonathan Newman
- How Currency Exchange Rates Are Determined by Frank Shostak
- Desperate Financial Regulators Turn to ... 100% Reserves by Joseph Salerno
- The Complexity of Violent Crime and the Role of State-Sanctioned Killing by Ryan McMaken
- Canadians (Sort of) Vote for Less Interventionism and More Freedom by Ryan McMaken
- A Tax I Can Support by Per Bylund
- My Day at the Fed by Mark Thornton
- Fantasy Sports and the State of Nevada Go Head-to-Head by Jonathan Newman
