Econ Unit 3

Front 1

What is the main paradox of the corporation?

Back 1

corporation creates great wealth but also great harm

Front 2

Where did the corporation grow out of and what was special of these initial corps?

Back 2

industrial revolution. clear rules on charters (how long to operate, money, what they made, shareholders liable)

Front 3

What is an externality? EX

Back 3

In a two person interaction a third person pays the price.

EX: Agent orange in Vietnam. US government sprayed to kill soldiers, ended up killing thousands of civilians.

Front 4

Give an example of the corporations sole intention of achieving profits.

Back 4

Corps trading with enemies. EX IBM giving Nazis...

Front 5

Who was General Smedley Butler?

Back 5

"Gangster for Capitalism" took over Mexico for oil, Cuba/Hati for Citibank. Asked by heads of several corporations to stage a coup against FDR in 1940's. They all denied these claims.

Front 6

How much does HC cost the average american?

Back 6

1 in every 6 dollars

Front 7

Name some general charcteristics of the HC system.

Back 7

-barriers to entry
-no open competition
-no consumer sovereignty
-policy incentives collusion
-medical industrial complex

Front 8

HC Britain

Back 8

% GDP: 8.3
Co Payment: none for most
What: socialized medicine. NHS. admin costs low. GP's paid extra for healthy patients.
Problems: long wait, limited choice

Front 9

HC Japan

Back 9

% GDP: 8
Co Payment: Preium 280 per month, 30% of procedure copay
What: social insurance. all required to have
Problems: spends too little. hospitals bankrupt

Front 10

HC Germany

Back 10

% GDP: 6.3
Co Payment: 750 per year. 15 $ per 3 months
What: social insurance. germans free to buy from 200 non profit sickness funds. sickness funds negotiate prices. no gatekeeper.
Problems:doctors underpaid. top 10% are allowed to opt out

Front 11

HC Taiwan

Back 11

% GDP: 6.3
Co Payment: 650 per year for family. copay small
What: government only insurer. system similar to canada/medicare. smart cards used. lowest admin costs
Problems: not taking in enough money.

Front 12

HC Switzerland

Back 12

% GDP: 11.6
Co Payment: 750 per month. 10 % of cost of service copay
What: social insurance. very similar to US. insurers negotiate set prices.
Problems: second most expensive in world

Front 13

HC system similarities
Britain -
Taiwan -
Poor Countries -
Germany -

Back 13

Britain - Veterans
Taiwan - Old
Poor countries - Poor
Working class - Germany

Front 14

What two factors did the Bay Area News Group use to analyze charity care?

Back 14

-% of operating expenses each hospital devotes to charity care
-how total charity care is divided among hospitals

Front 15

What arguments do the hospitals use to defend themselves?

Back 15

-Geographic location, some are in areas with less charity care needing people
-programs run outside of the hospital. preventative, less costly but effective

Front 16

What outlines the hypocrisy of hospitals in regards to CEO pay?

Back 16

they are asking nurses to increase out of pocket payments for HC, but also raising CEO pay

Front 17

Why do people have a problem with CEO pay?

Back 17

non-profit hotels receive tax-exempt status to save millions, but shell out millions to CEO's

Front 18

What are the three main issues with the US health care system?

Back 18

-lack of security
-lack of universal access
-rising costs

Front 19

What is evident with regards to charity care in non profit vs county hospitals?

Back 19

in contra costa county, one county hospital paid 75% of charity care

Front 20

History of campaign finance

Back 20

1907 - Tillman Act prohibited cops and banks from contributing money to elections
1971 - FECA forced disclosure. established PAC's. public campaign fund
2002 - Mccain Feingold bans all soft money contributions

Front 21

In favor of Campaign finance reform say....

Back 21

free speech, no matter if it has a good or bad effect, must be promoted
corps are made up of individ..
Americans can decide what they want after seeing all voices

Front 22

Against campaign finance...

Back 22

-will undermine us democracy
-shareholders might not agree with corporation
-money = voice = wins

Front 23

What did the lawyers agree upon in terms of the impact of the ruling?

Back 23

more money will be spent

Front 24

Were the respective examples cited by each compelling?

Back 24

Simpson - wine example. wine owner sent word out to follower to vote against congresswomen
Youn - richer candidates always win

Front 25

What is it the president could do about the decision?

Back 25

create a public financing option

Front 26

What’s the difference between PAC and Super PACs?

Back 26

S Pac - no coordination between the PAC and the candidate. spend unlimited on adds. can set up non-profit to donate money anomously. this is all questioned. past staffers often times work on s pacs.

Pac are heavily regulated and all donors are disclosed

Front 27

What did Malloy mean when she said, “Super pacs are not the only beast on the scene?”

Back 27

C4 non profits

Front 28

Why do politicians puppet messages like that?

Back 28

politicians ideologically synonymous with industry. believe industry propaganda. want to believe the free market system will work .

Front 29

Why is the industry so powerful on both sides of the aisle?

Back 29

lots of money. tons of lobbyists. govt'business connection

Front 30

Why is public insurance, a public option, so fiercely opposed by the industry?
- Note ‘market structure’ comment
- Note efficiency of public insurance.

Back 30

industry fiercely opposes it. don't want to compete with a more efficient entity.

Front 31

What is Neo feudalism?

Back 31

Giveaway to big business

Front 32

History of PPACA

Back 32

1929 - modern insurance created
1933 - FDR tries single payer
1950's - truman tries single payer
1960's - LBJ get medicare/caid
1974 - Nixon advocates more progressive than obama plan
1993 - H Clinton insurance pools
2010 - PPACA

Front 33

Name PPACA provisions

Back 33

1. HC exchanges. increase transperancy and competition.
2. High Risk pools.
3. ML Ratio at 80.20
4. individual fine/mandate
5. > medicaid

Front 34

Criticisms from dem/repub

Back 34

dem: giveaway to big insurance. no public option. no increase in competition
rep: no lower cost. increase deficit. fines not big enough.

Front 35

Supporters say

Back 35

lower costs (CBO report)
cover 30M more
start econ recovery
only affects 15% of pop