Economists are not stupid people. They are timid and tend to hide their timidity behind a wall of overbearing self-confidence. But they are not stupid. In fact, often they are too smart to talk about what they do and do not know. As they wiggle over the rocks of uncertainty, they appear to others as either sneaky or formless. Let’s take interest rates as an example. Economists like to talk about how, if the Fed raises interest rates, home mortgage…
In an environment where we’re all being asked to pay a larger share of our own health care costs, it’s interesting to see how little time we spend thinking about major decisions that have an impact on our health. Like selecting a primary care physician or any medical specialist, for example. According to a recent Managed Care Weekly Digest survey, 67 percent of U.S. adults ages 18-64 said they spent eight hours or more researching an automobile purchase, yet only…
I got something in the mail recently. Now, from my friends’ overwrought reactions, you’d have thought it was an invitation to go hunting with Dick Cheney. But no, to my colleagues, this was even more frightening. “This” was my summons for jury duty. As for me, I thought it was kind of cool. OK, so it’s not the prize patrol delivering my earlyretirement check. But the constitutional romantic in me was moved by the fact that I’d been summoned to…
A new law that’s designed to protect Indiana consumers changes the way businesses interact with their customers living in Indiana. Public Law 125, passed in the last session of the Indiana General Assembly and effective as of July 1, requires businesses to notify customers that reside in Indiana if there’s been a security breach in which personal data has been stolen. The law defines “personal information” as a Social Security number that is not encrypted or redacted, or a person’s…
As I write this, two of the biggest titans on the planet have just fought each other to a standstill. In one corner is the U.S. Department of Justice (DOJ). In the other corner, the search engine company Google. In 2005, the DOJ wanted to revive the Child Online Protection Act (COPA), which had already been swatted down by the Supreme Court as unconstitutional. The law didn’t address child pornography, as has often been assumed in the case, but only…
I was going to play smart aleck this week. I was going to write in hick dialect. I was going to lambaste us Hoosiers over our stubborn adherence to the status quo, our penchant to take things slow, our preference for partisanship, our pooh-poohing of progress and our bull-headed gumption to go it alone in a global economy. Then news broke that Indiana has the highest high school dropout rate in America. So I figured that for two reasons, I’d…
A touch-screen directory, a grove of potted trees and a muffin-bearing kiosk greet visitors entering the six-story atrium at the new Clarian North Medical Center in Carmel. A much milder scene awaits people walking into Westview Hospital a few miles away, on the west side of Indianapolis. There, a lonely player piano spills soft tunes into a one-story lobby filled with clusters of chairs and pamphlets on volunteering. “Quiet! Healing in Progress” reads a nearby sign. Indiana’s lone osteopathic hospital…
Fifty years ago, economist Charles Tiebout expressed a vision of how freeing local governments to pursue their own unique strategies for setting taxes and providing services could produce an efficient outcome much like the private marketplace. He called it “voting with your feet.” The idea was simple-by moving, people could sort themselves out and live in communities that came closest to providing the tax and expenditure combinations they valued most. Reality is quite a bit more complicated. When people move…
God, she’s cute: Your little Paula or Patti or Pammy. Sitting there on the swing set, rocking back and forth, back and forth, her brunette locks blowing in the breeze. You watch her on the merry-go-round, spinning faster and faster. Watch her on the jungle gym, climbing higher and higher. Watch her and her little friend Annie or Jenny or Missy walking toward the trail into the woods. And you know you aren’t the only one watching. You know he’s…
The walls of Turae Dabney’s office at the Indianapolis Black Chamber of Commerce are covered in easel paper scribbled with enough notes to make an anal-retentive person dizzy. Though garbled to visitors, the pages hold the key to her vision for the organization she assumed leadership of as executive director earlier this year. “I do better if I visualize it,” she said. “It looks like a mess, but I know exactly what everything means.” The message she is sending to…
A Franklin psychiatrist has accused the state agency that runs Medicaid of suffocating his practice in a reimbursement dispute that dates back more than a year. Dr. John Lewis said the weekly Medicaid checks that keep his Harmony Center open dwindled to nothing for four straight weeks after he filed a lawsuit in April against the state Family and Social Services Administration over a payment review it imposed. The psychiatrist believes his center may survive only another month, a closing…
I admit I don’t understand the world in which I live. For example, a study in the Journal of the American Academy of Dermatology reports that 24 percent of Americans age 18 to 50 have one or more tattoos. That rises to 36 percent when we look at just those 18 to 29. I don’t get it. Is this body art, a message to the world, a commitment to oneself or someone else? Tattoos do fill in all that empty…
I love it. It makes summer even better than it already was. I don’t believe, as a friend of mine recently suggested, that DST is a plot by Republican businessmen to play more golf in the summer. No, it was a sound economic development move, and I’m glad the Legislature wised up and made it happen. Big picture, it’s good for business. Speaking of which, I haven’t talked to a single businessperson who’s seriously complaining about the time change. If…
Every time the Q: Fe d e ra l Reserve raises rates, I expect to pay my bank more for financing. I guess I understand the reason for this-the government says it wants to guard against inflation-but the Fed’s actions still make it hard for the small-business owner who needs to borrow money. How can I get the lowest possible rates? And what will my bank require of me that they don’t now? Or is there any way around this…
As I write this, the stock market has fallen off a ledge and given up, depending on the index, between 7 percent and 12 percent in a bit over a month. After that kind of fun, you might be ready to throw yourself off a ledge, or at least cash in what’s left of your portfolio. Yes, the last few weeks have been trying, but being an investor in U.S. stocks since the beginning of this decade has been no…
According to the mainstream media, no sooner is your precious data placed on a hard drive than it’s promptly vacuumed off through a hacker’s hole and inserted into some miscreant’s illicit schemes for world domination. I admit I’ve advocated for computer security for years, but that was because most companies’ idea of security is to hide the backup CDs in the coffee creamer box. I never meant to contribute to the panic that seems to have gripped the American population…
We’re a start-Q: up and constantly need answers to basic legal questions about business structures, the hiring process, contracts, wages, safety, trademarks and more, but can’t afford expensive lawyers. What are some options? Legal issues often present a dilem-A:ma for cost-conscious small businesses, especially startups. You want the best information but paying legal professionals for every little thing gets expensive. The range of legal issues facing entrepreneurs is immense, from naming a business and obtaining licenses to complying with tax…
As an economic forecaster, I am almost always optimistic. But that’s not a personality trait. It’s the nature of the business. The economy around us is doing amazingly well. We’ve had much longer economic expansions, steady job and income growth, and less frequent recessions for more than two decades now. So when you deliver an optimistic forecast these days, you stand a pretty good chance of being right. But if there’s one area where my optimism vanishes, it is this-how…
Concerns about oxygen tanks and noisy delivery trucks have cropped up since St. Vincent unveiled plans last winter for the long-term, acute-care hospital on Township Line Road. “They just kind of stomped in and said, ‘This is what we’re going to do,'” said Beth King, a resident of Spring Hill Place, a 40-home subdivision on the site’s northern border. However, hospital officials, who are preparing for a ground breaking on the $17 million project this month, say they made several…
Americans like to keep score on things. And in the realm of economics, there are plenty of things to keep score on. But the economy is a huge, often unwieldy beast, and the data we use to track it are often quite a bit fuzzier than the rows of hardlooking numbers in the graphs and statistical reports we digest would make it seem. In fact, as the old joke goes, we economists like to present growth rates out to two…
