Category Archives: Economics

Reading List July 28, 2005

  • IceRocket’s Secret Weapon (The Post Money Value) — How saying "Thank You" is a powerful business tool.
  • Tracking is Good (A VC) — Value in targeted marketing, and how customer tracking helps.
  • Onfolio – The Buzz Process (The Post Money Value) — Blogs change the landscape for getting testimonials and paid placement.
  • Cheap Shot in a Good Cause (Moore’s Lore) — Why free trade should not be values free.
  • Becoming an Un-Person (Moore’s Lore) — The ID system in the US is broken and Dana’s experience with the local Social Security Administration office is a good example of why.
  • The Christian Paradox (Harper’s via Chewie) — On American Christians and their un-Christian behavior.
  • Wartime Dispatches (Greensboro News & Record) — Stories about soldiers in Iraq who are from Piedmont Triad area.
  • Economics of Used Books (Boing Boing) — Why Amazon.com isn’t stupid for selling used books next to new books.
  • Spin Sucks (Feld Thoughts) — “First we have to decide what the right thing to do is; then we’ll
    think about the politics.  Otherwise we’ll just confuse ourselves. — Richard Snelling”
  • Acceptable Downtime (Feld Thoughts) — Why 99.999% up time may not be enough for online service providers.  Better said would be the importance of redundancy.
  • Delta and the "Internal" Memo (The Post Money Value) — About the absurdity of the concept of an "internal" memo in a company with more than 10 employees.
  • No More AO-Hell (Jeff Jarvis) — Jeff dumps AOL after a 12 year relationship and in the process of describing the dump he gives a cool retrospective on the evolution of the internet.

Reading List July 25, 2005

A Positive Story Involving Medicare?

According to this post on Daniel Drezner’s blog, in which he references an article by Gina Kolata in the New York Times, Medicare is prepared to give doctors, free of charge, the software to computerize their medical practices.  The savings for each doctors office could be as much as $100,000.

Of equal interest to me is that the system they are going to give the doctors is called Vista, which is not owned by any company (i.e. it is open source) and is already being used by Veterans Affairs hospitals and inpatient/outpatient facilities. 

As with other open source software the real power lies in the ability for any number of developers to create improvements or new applications for the system.  Then individual users can pick which components are worth using or implementing.

One example cited is the suggestion of a VA nurse to use barcodes on prescription medications and on patients’ wrist bands.  The person administering the medicine scan’s the drug and the wrist band and if there’s a mismatch between the wrist band and the drug the system catches it.  Programmers added this feature and it led to an 80% drop in drug errors at the VA.

Medicare has rightly identified the backwardness of doctors’ offices as an impediment to an improved healthcare system.  Let’s hope for all our sakes that this new system leads to improved, and cheaper, care.

**Last note** – Vista has always been available for free via a Freedom of Information Act request, but nobody knew it.

Today’s Reads: July 22, 2005

Today’s Reads: July 19, 2005

Freaky Economics from My Alma Mater

It seems that the Freakonomics guys aren’t the only ones practicing "freaky economics."  Check out this Wall Street Journal piece that links to several interesting, non-traditional applications for economics.

The coolest part to me is that my alma-mater, George Mason University, is home to the economics department from which the author hails.  GMU’s first Nobel laureate was an econ-guy at the school, and as further proof that my wife is the brains in the family, she was an Econ major.  I, of course, was an English-Lit major which had a decidedly less, um, rigorous curriculum.

Freakin’ on Freakonomics

As I mentioned in an earlier post I’m starting in on Freakonomics, and I can now tell you I’m enjoying it immensely.  Based on my earlier post a good friend of mine (hi Rich) has asked me to send him the book when I’m done.  Until then he, and you, can enjoy the work of the Freakonomics boys on their blog.

Also, here’s a great piece on how the folks at RIAA should apply a lesson from Freakonomics to their problem with file sharers.

Proof That Your Boss Probably IS a Lying, Cheating Bastard

The London Times printed an excerpt from Freakonomics that is pretty interesting.  A former economist for the US Government went into business providing bagels to companies each morning and leaving a box for the companies’ employees to put money in if they ate a bagel.  He also provided a suggested price for them to pay.  After that he relied on the honor system for his payment.

Being an economist the guy kept detailed data about his sales.  He was able to track the payment rate (or cheating rate if you want to be negative) on a company-by-company basis.  At one company he was even able to track the cheating rate of the executive suite vs. the lower level employees.  Here’s a quote:

He also believes that employees further up the
corporate ladder cheat more than those below. He got this idea after
delivering for years to one company spread out over three floors — an
executive floor on top and two lower floors with sales, service, and
administrative employees. (Feldman wondered if perhaps the executives
cheated out of an overdeveloped sense of entitlement. What he didn’t
consider is that perhaps cheating was how they came to be executives.)

The excerpt also has some interesting comparisons of small companies vs. large companies, the  effect of weather and other factors.  Definitely a fun read.

FYI, I’m in the middle of reading Freakonomics (which is excellent) and I’ll probably be posting observations about it here in the future.