Most of the essay below was written on 16 June, 2008. It was written as a post (including all of the financial graphics) for a critical care medicine list-serve called CCM-L – a venerable, but at the same time quirky and eclectic forum, for discussing critical care medicine and topics that could transform it, for good or ill (even if they are seemingly far afield from the brass tacks of medical technology, per se). Sometime ago, I'm not sure quite when, I was alerted to the work of the economic analyst (and economist) Michael Mandel's in the form of his seminal article, “Why the Jobs Crisis is Actually an Innovation Crisisâ€, by something I saw in an e-communication from the Cato Institute. Mandel’s analysis started me working to rewrite my CCM-L piece into a more rigorous (and less personal) exposition of my ideas. Subsequently, Mandel’s article prompted a more exhaustive and insightful analysis of the current financial meltdown by the even more prestigious economist Tyler Cowen. Continue reading
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