Category: Politics, Religion & Money

https://hms.harvard.edu/news/what-happens-when-private-equity-takes-over-hospital

This will be a very long post, and I don’t want to write it in a single sitting, so I’ll publish it in sections. How many? Don’t know. I haven’t written it yet!

It’s a story that I have been unsure about writing for as long as I have been Prattling with WordPress. There will be no graphics, no audio, and no video. What there will be is a true story from the years when I was a boss. There’s a big reveal that, considering the subject, I won’t hide until the end. I had to fire Ted, the only Black man I ever hired.

Starting salaries where I worked were low. With a Bachelor’s degree I was hired for a base salary of only $9,000, which is equivalent to $31,500 today. The opportunity had a lot of potential, including an annual bonus and the chance to purchase the company’s privately held stock. That potential was ultimately realized, with the immediate benefit of being able to work with my friends from college.

The company’s low starting pay was a problem in another way, once I became responsible for hiring people into my small group. After being promoted from my entry-level position I did a lot of traveling. Personally I thought of the travel requirement as a benefit, and I pitched it that way to job applicants. Nonetheless, the money that came with the job limited the candidates who were willing to accept an offer.

As far as I know, Ted was the only Black person who was ever interested in joining my group. With no directly related experience required for the position, Ted was a qualified applicant. I recall one specific, unusual detail from his resume. He named himself as one of his references. When asked about it, Ted said he was his own best reference. I wasn’t going to exclude Ted from consideration simply because I thought it was an odd thing to do on a resume, but my internal “little warning bell” was ringing.

Perhaps Ted had gotten the idea from a resume guidebook? What Color Is Your Parachute? was popular at the time. Or was I, as a White guy, seeing an unfamiliar aspect of Black culture? I talked it over with my boss, and we decided we were okay with it. I offered Ted the job, at the same starting salary as everyone else, and he accepted.

While in college I was a fairly regular reader, at the library, of William F. Buckley, Jr.’s National Review magazine. Along with reading Ayn Rand’s Atlas Shrugged, I was interested in conservative ideas, but came away unable to embrace them. I didn’t, however, register as a Democrat until twenty years later, during Bill Clinton’s second term. Newt Gingrich made it obvious that the Republican Party was no longer interested in governing, but in merely holding onto power.

I understand rich people wanting to protect their accumulated money, because it’s also true for those of us who are reasonably well off. What I can’t abide is Republicans being offended by the very existence of certain people. Their tolerance is tested when “those people” insist upon being seen and heard. In short, Republicans don’t believe in live and let live.

History has shown, to my satisfaction, that William F. Buckley managed to end up on the wrong side of every major domestic issue of his time, with the exception of Watergate. Defending the Democrats’ war in Vietnam must have been the height of irony for him. What would Buckley have thought of Trump’s advocacy of Putin’s Russia?

Buckley seemed to delight in ad hominem jibes at his political sparring partners. He was known for his verbal jousting with Gore Vidal. I don’t recall anyone ever comparing Buckley’s highly affected mannerisms to his contemporary, and fellow New Yorker, Truman Capote, who also enjoyed indulging in witty personal slights. This new American Masters documentary does a good job of damning William F. Buckley, Jr. with high praise.

As pointed out in the documentary, Buckley made many appearances on college campuses, and students enjoyed meeting him. As I have mentioned before, I was influenced in college when meeting Harvard economist John Kenneth Galbraith.

Here are Buckley and Galbraith at the start of Reagan’s first term, when the ideas of John Maynard Keynes had been overshadowed by Friedrich August Hayek, by way of Milton Friedman’s Chicago School laissez faire economics. Neither Buckley nor Galbraith lived long enough to see a Republican administration embracing Keynesian government intervention to save American Capitalism.

https://youtu.be/0iq7vktSXVg

Note: I have linked to this video, rather the embed it, because of the warning about unauthorized distribution. The Hoover Institution Library & Archives doesn’t prevent embedding, which undermines the disclaimer.

Epic Systems is the overwhelming leader in hospital information software. Despite being, by far, the most expensive vendor. The FTC should look into how Epic maintains its dominant market position. Ironically, Epic’s rise to dominance was accelerated by the HITECH Act of 2009, that paid hospitals to install, replace, or upgrade their systems.