Word: protectionism
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After a year of political posturing and rancorous debate over healthcare, President Obama signed the Patient Protection and Affordable Care Act into law Tuesday, codifying reforms that will indelibly transform the insurance industry. This represents the most drastic form of federal action on domestic affairs since the institution of Medicare...
A fact not surprising to anyone who has followed the healthcare reform battle in the last year is that the Patient Protection and Affordable Care Act, now signed into law, managed to pass through both chambers of Congress without a single Republican voting “Yea.�...
Applying Smith's teachings to the modern world, then, is a much more complex and doubtful endeavor than it's usually made out to be. He certainly wouldn't have been opposed to every government intervention in the market. On financial reform, it's easy to imagine Smith supporting the...
An area of fierce contention in the regulatory debate is that of an independent Consumer Financial Protection Agency, but such an institution is vital. Complex financial products wrought destruction on everyone from pension fund-owners to everyday homeowners. An independent CFPA would regulate financial “innovations�...
Further comparing the U.S. and China, Kleinman noted that Chinese mental illness hospitals emphasize the protection of society from the mentally ill—a mindset that cultivates a perception of the mentally ill as unpredictable, out of control, and potentially dangerous.