Thanks To Bolivarian Socialism, Venezuela Brings Back Agricultural Slavery - Forbes

29/07/2016
ThanksToBolivarianSocialism,VenezuelaBringsBackAgriculturalSlaveryForbes
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ThanksToBolivarianSocialism,
VenezuelaBringsBackAgricultural
Opinion / Slavery
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JUL 29, 2016 @ 09:13 AM
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ThanksToBolivarian
Socialism,Venezuela
OverwhelmingEvidenceThatObamacare
CausedPremiumsToIncrease
Substantially
BringsBack
AgriculturalSlavery
Active on Facebook
Tim Worstall, CONTRIBUTOR
Active on Twitter
OrganicLeadersTurnOnWholeFoods
I have
opinions about economics, finance and
AndEachOtherOverGMOLabelingBill
public
policy. FULL BIO
Opinions expressed by Forbes Contributors are their own.
ThattheBolivariansocialistshaventbeen
runningVenezuelaverywellissomething
apparenttoeventhemostblinkered.This
Active on Facebook
isthecountrywhichhasrecentlyrunout
FearSells,WhyYouShouldn'tBuyIt
WhenItComesToGMOs
ofbeer,BigMacs,thattoiletpaperwe
keepmakingjokesaboutandisonthe
vergeofrunningoutofbanknotesasthey
nowcostmoretoprintthantheyare
worth.Astowhythisisallhappening,no,
KPMGVoice:4EssentialGuidelinesFor
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itsnotthesocialismpartoftheplans.A
creditunionisasocialistorganization,
andweveyettocomeacrosstheexistence
ofoneofthemcausingthenationstoilet
papertorunout.No,themistakehasbeen
+4,341
views in the last 24 hours
toabandonthemarketandpricesasthe
WhatFacebookAndAppleCanTeachYouAbout
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informationandallocationsystemsforthe
economy.Long,hardandbitter
+37experiencehasshownusthatthosetwo
comments in the last 24 hours
AsIPredicted,Seattle'sMinimumWage
thingsaresimplyessentialtohavean
RiseIsReducingEmployment
economythatoperatesinanythinglikean
acceptablemanner.Theresimplyisno
http://www.forbes.com/sites/timworstall/2016/07/29/congratulationstobolivariansocialismvenezuelabringsbackagriculturalslavery/#9bb868f40d8c
1/11
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othermethodofplanningormanagement
capable,otherthanthosemarkets,of
Active on Facebook
dealingwiththecomplexityofan
economy.TheVA'sLuxuryArtObsession
TrendingNow
Gallery
CountriesThat
HaveTried
Slavery
Socialism
LaunchGallery
11images
Active on Facebook
AndyetjustwhenIthinkthattheplaceis
Substantially
gettingtorockbottom,Maduroand
compadresmanagetodigthemselvesever
deeper.Theyhavenowbroughtback
agriculturalslavery:
Active on Twitter
PresidentNicolsMadurosignedadecreeat
theendoflastweekthatgivespowerstothe
laborministrytoorderallworkersfromthe
publicandprivatesectorwithenough
physicalcapabilitiesandtechnicalknow
howtojoinagovernmentdriveaimedat
Active on Facebook
increasingfoodproduction.
WhenItComesToGMOs
Theycanberequiredtoworkinthe
agriculturalsectorfora60dayperiodthat
canbeextendedforanother60daysifthe
circumstancesrequireit.
BuyingATechCompany
Itsentirelytruethatthisisntchattel
slaverybutitisverymuchakinto
serfdom.Thepeasantmustworkacertain
numberofdaysoftheyearonthelords
+4,341
land.Althoughwithserfdomtherewas
TransferPricing
actuallyaquidproquo:thelorddefended
theserfinreturnthatshowthe
+37institutionarose.Venezuelasbiggest
defenseneedistobedefendedfromthe
idiocyoftheVenezuelangovernment,so
forcingthemtogolaborforitisadding
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insulttoinjury.
Active on Facebook
Donotethatthisisntjustsomenewssite
TheVA'sLuxuryArtObsession
bigginguptheeffectsAmnesty
Internationalisonthecase:
TrendingNow
Recommended by Forbes
Slavery
CongratulationsTo
CongratulationsTo
BolivarianSocialism
BolivarianSocialism:
Active
on Facebook
VenezuelaIsNowThe
VenezuelaIsNowThe
CountryWith...
CountryWithNo...
Substantially
Anewdecreeestablishingthatany
employeeinVenezuelacanbeeffectively
Active on Twitter
madetoworkinthecountrysfieldsasaway
tofightthecurrentfoodcrisisisunlawful
andeffectivelyamountstoforcedlabor,said
AmnestyInternational.
TryingtotackleVenezuelasseverefood
shortagesbyforcingpeopletoworkthe
Active
on Facebook
fieldsisliketryingtofixabrokenlegwitha
WhenItComesToGMOs
bandaid,saidErikaGuevaraRosas,
AmericasDirectoratAmnestyInternational.
Thethingis,thisisworsethanjust
bringingbackstateserfdom.Itsalsoa
ludicrouslystupididea.Backacenturyor
BuyingATechCompany
soyouprobablycouldgetsomeuseful
agriculturalworkoutofmostablebodied
adults.Perhapsnotwhollyeffectiveand
efficientworkbuteveryonewouldhave
+4,341 views in the last 24 hours
hadatleastapassingknowledgeofhow
youdiguppotatoesorplantcarrotsor
TransferPricing
something.Afterall,mostgardensback
thendidcontainatleastamodicumofa
+37 comments in the last 24 hours
vegetablepatch.
Today,inamoderneconomy?90%ofthe
3/11
29/07/2016
peoplewouldntknowwhichendofa
carrotwasupwhenstuckoutinafield
Active on Facebook
somewhere.Andfarmingthesedaysjust
isntamatterofhumanlabor.Itsgood
seeds,machineryandgoodpesticides.
Forcingthepopulationoutintothefields
simplydoesnotincreaseagricultural
productivity.Thereisalsothatvery
disturbingovertoneofthePolPotregime
Slavery
wheneveryonereallywasforcedoutinto
thefieldspermanently.
TrendingNow
Thereisafinalpoint:Venezuelas
Active on Facebook
agriculturedoesntsufferfromalackof
labortoperformit.Itsuffersfromselling
Substantially
pricesbeinglowerthanthecostsof
growingthestuff.Thatis,agricultureis
sufferingfromalackofreasontodoit,not
alackofthepeopletodoitiftherewerea
Active on Twitter
reason.
IfMadurosimplyfreedthepricesystemI
guaranteeyouthatthefoodshortageswill
disappear.Fortheyrebeingcausedby
thosepricecontrols,nothingelse.
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JUL 28, 2016 @ 08:43 AM
VIEWS
EDITOR'S PICK
Overwhelming
EvidenceThat
TrendingNow
ObamacareCaused
PremiumsToIncrease
Slavery
Substantially
Active on Facebook
The Apothecary
Insights into health care and entitlement reform.

FULL BIO
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Opinions expressed by Forbes Contributors are their own.
Brian
Blase, Contributor
Substantially
TwoscholarsattherenownedBrookings
Institution,LorenAdlerandPaul
Ginsburg,havepublishedananalysis
Active on Twitter
findingthataveragepremiumsinthe
individualmarketactuallydropped
significantlyuponimplementationofthe
ACA[AffordableCareAct].Thiscontrasts
withaplethoraofevidence,includinga
rigorous2014Brookingsstudy,showing
Active on Facebook
thattheACAsignificantlyincreased
WhenItComesToGMOs
premiums.Inthispost,Idiscuss
methodologicalconcernswiththeAdler
andGinsburgapproachaswellasevidence
thatleadsmostscholarstoreachavery
differentconclusion.
BuyingATechCompany
Gallery
PlacesWith
TheHighest
+4,341
Medicaid
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Enrollment
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in the last 24 hours
11images
WhileIwilldiscusstherelevantevidence
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oftheACAseffectonpremiumsindepth,
therearethreedatapointsworth
Active on Facebook
emphasizing.First,unlikeAdlerand
Ginsburgsapproach,Brookings2014
studyusedactualdataandfoundthat
enrollmentweightedpremiumsinthe
individualhealthinsurancemarket
increasedby24.4percentbeyondwhat
theywouldhavehadtheysimply
Slavery
followedtrends.Second,S&PGlobal
Institutefoundthataverageindividual
marketmedicalcostsincreased
substantiallybetween2013and2015,up
Active on Facebook
anestimated69%.Third,2014insurer
datashowsthatpremiumsforindividual
Substantially
marketQualifiedHealthPlans(QHPs),
ACAcompliantplanscertifiedtobesold
onexchanges,weremuchhigherthan
premiumsforindividualmarketnon
Active on Twitter
QHPs,mostlyplansinexistencebefore
2014thatdidnotcomplywiththeACA.
RelativetononQHPs,insurerscollected
morethan$1,000perenrolleeinhigher
premiumsandmorethan$2,300in
higherpremiumrevenueperenrolleein
Active on Facebook
2014afteraccountingforlargepremium
subsidyprogramsfortheirQHPs.
WhenItComesToGMOs
TrendingNow
AdlerandGinsburgdonotdiscussthis
previousresearch,andtheiranalysisalso
failstoaccountforothercrucialfactors.
Theydonotaccountappropriatelyfor
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substantialsubsidiesinsurersreceivedto
discountindividualmarketACAplan
premiums.Theyalsodonotconsiderthe
trendinmedicalclaimscosts,whichis
presumablyabettermeasureoftheACAs
effectontheindividualmarketthusfar
TransferPricing
givenboththelargesubsidiesandlarge
lossesinsurershaveincurredsellingACA
plans.Instead,mostoftheiranalysisrelies
uponcrudebackoftheenvelope
estimatesfortheaverageindividual
6/11
29/07/2016
marketpremiumin2009aswellaswellas
foranannualgrowthratetoinflatetheir
Active on Facebook
2009premiumestimate.
TrendingNow
Finally,itisworthnotingthatifAdlerand
Ginsburgwerecorrectintheiranalysis,we
wouldexpecttoseeverydifferentresults
thanhaveoccurred.If,astheyclaim,the
Slavery
ACAwasdeliveringbettercoverageat
lowercost,theexchangeswouldhave
attractedawidercrosssectionofenrollees
andmoreinsurerswouldbelookingto
Active on Facebook
enterthesemarkets.Insteadwesee
adverseselectionintheindividualmarket,
Substantially
withspiralingpremiums,sizeableinsurer
exits,andenrolleesgenerallyattractedto
ACAplansonlyiftheyareeitherhighly
subsidizedorrelativelyoldorunhealthy.
Active on Twitter
AmpleEvidenceShowsAverage
PremiumsandSpendingExploded
AfterACAImplementationin2014
Whileitisimportanttolookatdatafor
Active on Facebook
severalyearsafter2013toassessthe
impactoftheACA,comparingindividual
WhenItComesToGMOs
marketpremiumsin2013withthosein
2014theyearitskeychangestookeffect
providesanapproximationoftheinitial
change.TheManhattanInstitute
comparedtheaverageofthefiveleast
BuyingATechCompany
expensivepreACAplansin2013withthe
leastexpensiveplansavailableon
exchangesin2014.Manhattans
researchersadjustedthepreACAplan
+4,341
premiumsupwardtoaccountforthe
populationfacingsurchargesordenied
TransferPricing
coveragebecauseofapreexisting
condition.Manhattanestimatedthatthe
averagestateindividualmarketpremium
increased41%between2013and2014.A
countylevelanalysissuggestedthat
7/11
29/07/2016
premiumsincreasedby49%.
Active on Facebook
Recommended
by Forbes
TrendingNow
NewStudy:
NewReportSuggests
ObamaCareEnrollees
MassiveInsurer
TwiceAsExpensiveAs
LossesIn2015On
Slavery
OtherIndividual
ObamacareAs
Market...
Healthcare...
Active on Facebook
The2014Brookingsstudyonthissame
subjectbyAmandaKowalskiand
Substantially
unaddressedbyAdlerandGinsburgused
actualpreACAindividualmarket
premiumdata,findingthat[a]crossall
states,frombeforethereformtothefirst
Active on Twitter
halfof2014,enrollmentweighted
premiumsintheindividualhealth
insurancemarketincreasedby24.4
percentbeyondwhattheywouldhavehad
theysimplyfollowedstatelevelseasonally
adjustedtrends.AccordingtoKowalski,
Active on Facebook
theManhattanInstituteestimatesare
WhenItComesToGMOs
higherlikelybecausetheywerenot
enrollmentweighted,andindividualsin
areaswithhighpremiumslikelyselected
cheaperplans.
BuyingATechCompany
EconomistsattheUniversityof
Pennsylvania,alsousingactualpreACA
individualmarketdata,estimatedthatthe
totalexpectedpriceofindividualmarket
coverage(premiumsplusoutofpocket
+4,341
payments)increasedby14%to28%asa
TransferPricing
resultoftheACA.Accordingtotheir
findings,thepreACAaveragepremium
+37waslowerthanthelowestsilverplan
premium.Pennseconomistsalso
estimatedthatplansintheindividual
marketbeforetheACAhadsimilar
8/11
29/07/2016
actuarialvaluetosilverplans,notan
averageactuarialvaluethatwas10
Active on Facebook
percentagepointsless(and17%less)than
assumedbyAdlerandGinsburg.
Importantly,allofthesestudiescompare
grosspremiumsbeforeandaftertheACA
withoutaccountingforsubsidiesthat
loweredACAplanpremiums.
TrendingNow
Slavery
Perhapsthemoststrikingvisualdatathat
suggestAdlerandGinsburgsconclusions
arewrongisanS&PGlobalInstitute
analysisofindividualmarketpermember
Active on Facebook
permonth(PMPM)costsfromMay.The
figurebelowfromtheS&Preportshows
Substantially
trendsinPMPMcostsfortheindividual
andemployerprovidedmarkets.TheACA
isresponsibleforthehugespike,clearly
showninthefigure,intheindividual
Active on Twitter
marketPMPMcosts,whichbyearly2015
exceededPMPMcostsintheemployer
markets.
Active on Facebook
WhenItComesToGMOs
BuyingATechCompany
ThedatashowsahugeincreaseinPMPM
costsintheindividualmarketbetween
2013and2015.AccordingtoS&P,PMPM
costsincreased38%between2013and
TransferPricing
2014,andanother23%between2014and
2015.Thetwoyearincrease(69%)isthe
+37productofthetwosingleyearincreases.
9/11
29/07/2016
Active on Facebook
TrendingNow
Slavery
ThecomparablePMPMcostincreasein
Active on Facebook
theemployermarket,whichtheACA
affectedmuchless,amountedtoabout
Substantially
11%.Assumingan11%increasewould
havehappenedintheindividualmarket
absenttheACA,averyroughinitialguess
wouldbethattheACAincreased
Active on Twitter
individualmarketPMPMcostsbyabout
58%between2013and2015.As
previouslynoted,premiumsdidnot
increasebythisfull58%becauseof
insurerslargelossesandthelarge
subsidiestheyreceived.
Active on Facebook
Itisworthnotingthattheindividual
WhenItComesToGMOs
marketincludesbothACAcompliant
plansaswellasnonACAcompliantplans.
IfonlyACAcompliantplanswere
includedinthepost2013data,thespike
wouldlikelybemuchlarger.
BuyingATechCompany
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Thanks To Bolivarian Socialism, Venezuela Brings Back Agricultural Slavery - Forbes

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Thanks To Bolivarian Socialism, Venezuela Brings Back Agricultural Slavery - Forbes

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29/07/2016

Tim Worstall, CONTRIBUTOR

Reprints & Permissions

+4,341 views in the last 24 hours

+37 comments in the last 24 hours

JUL 28, 2016 @ 08:43 AM

Insights into health care and entitlement reform.

Opinions expressed by Forbes Contributors are their own.

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+37 comments in the last 24 hours

+4,341 views in the last 24 hours

+37 comments in the last 24 hours

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