A Quote by Gary Becker
Human capital analysis starts with the assumption that individuals decide on their education, training, medical care, and other additions to knowledge and health by weighing the benefits and costs. Benefits include cultural and other non-monetary gains along with improvement in earnings and occupations, while costs usually depend mainly on the foregone value of the time spent on these investments.
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Gradual and moderate warming brings benefits as well as incurring costs. These benefits and costs will not, of course, be felt uniformly throughout the world; the colder regions of the world will be more affected by the benefits, and the hotter regions by the costs.
Doing all we can to combat climate change comes with numerous benefits, from reducing pollution and associated health care costs to strengthening and diversifying the economy by shifting to renewable energy, among other measures.
Every country in the world is battling the rising cost of health care. No community anywhere has demonstrably lowered its health-care costs (not just slowed their rate of increase) by improving medical services. They've lowered costs only by cutting or rationing them.
Health care costs are on the rise because the consumers are not involved in the decision-making process. Most health care costs are covered by third parties. And therefore, the actual user of health care is not the purchaser of health care. And there's no market forces involved with health care.
People don't like it, but inevitably we need to think about both the costs and the benefits of health care. We cannot avoid the financial consequences.
There are some benefits [that illegal aliens] clearly ought not have...[including] health benefits and welfare benefits and others that serve as a magnet attracting people here from other countries.
Because what happens is, as the economy suffers, tax revenues go down. But unlike businesses, where at least your variable costs go down, in government your variable costs go up: unemployment insurance, workmen's compensation, health care benefits, welfare, you name it.
The Commission agrees that the federal government should help alleviate these costs. The best way to do so is to reduce illegal immigration.... We recommend immediate reimbursement of criminal justice costs, because these conditions can now be met, but we urge further study of the costs of health care and education before impact aid is provided.
If an artwork never gets any attention from anybody, then obviously it's got problems. If it gains attention from a very small elite, then it's presumably doing something. Finnegans Wake gets a lot of attention from certain people who become passionate about it, who are usually very good readers in general. Although - I often talk about costs and benefits - it seems to me the costs of reading Finnegans Wake are not worth the benefits, however many there may be. And it's the same with the more arcane among poets, Zukofsky and so on.
The big picture is: the main thing you should be concerned about in the future are incremental returns on capital going forward. As it turns out, past history of a good return on capital is a good proxy for this but obviously not foolproof. I think this is an area where thoughtful analysis can add value to any simple ranking/screening strategy such as the magic formula. When doing in depth analysis of companies, I care very much about long term earnings power, not necessarily so much about the volatility of that earnings power but about my certainty of "normal" earnings power over time.
One of the biggest reasons for higher medical costs is that somebody else is paying those costs, whether an insurance company or the government. What is the politicians' answer? To have more costs paid by insurance companies and the government. ... [H]aving someone else pay for medical care virtually guarantees that a lot more of it will be used. Nothing would lower costs more than having each patient pay those costs. And nothing is less likely to happen.
In a mature democracy any proposed policy should be subjected to a close analysis of its likely benefits and costs.
Given our inevitably incomplete knowledge about key structural aspects of our ever-changing economy and the sometimes asymmetric costs or benefits of particular outcomes, a central bank... need to consider not only the most likely future path for the economy but also the distribution of possible outcomes about that path. They then need to reach a judgment about the probabilities, costs, and benefits of the various possible outcomes under alternative choices for policy.
Education's net economic benefits are greater than many other investments.
Costs for liability insurance are higher than costs for many procedures. There is a need to reform liability laws to stop out-of-control health care costs.
Student loans have been helpful to many. But they offer neither incentive nor assistance to those students who, by reason of family or other obligations, are unable or unwilling to go deeper into debt. ... It is, moreover, only prudent economic and social policy for the public to share part of the costs of the long period of higher education for those whose development is essential to our national economic and social well-being. All of us share in the benefits - all should share in the costs.
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