I don't think NPR has ever packed more stupid into any single story, here's just a sample:Ouch...
No. 1 There is no "Rule" that the same goods have to have the same price. This is not taught in ANY economics or business class. If you reporters weren't apparent economic illiterates and had attended at least one economics class you would have known that price is a function of supply and demand. In fact, this proves this imaginary NPR "Rule" is nonsense.
No. 2 The reporters compare prices of canned pasta and announce that a price of $1.00 is pretty close to a price of $1.09. NO IT'S NOT. There's a 9% difference in price, which is a significant difference (Would your reporters take 9% less in pay because its "pretty close"?) Less than a minute into the report, and the "Rule" doesn't work.
No.3 Most hospital are not businesses, they are non-profits, so contrary to your reporter's contention, their goal is to serve the public not achieve maximum profits.
No.4 Why does no one on Planet Money have the foggiest grasp of the concept in "inelastic demand"? Which proves that comparing health care to canned pasta is bogus.
No.5 Why does Planet (worship the)Money ALWAYS frame health economics terms of Right Wing Freeper world view? On Planet Money (and NPR) there is absolutely no moral component to health care. Which seems to explain your reporter being perplexed as to why an emergency room can't turn anyone away.
Please, please find someone at that understands basic math, I've given up on any hope of you finding someone that understands economics.
Doesn't NPR have editors?
Friday, November 13, 2009
I'm In the Stupid Aisle
Okay, Chana Joffe-Walt actually said, "I'm in the the soup aisle" as she spoke to her partner in inanity, David Kastenbaum on their Planet Money story on this Friday's ATC. NPR Check reader, Grumpy Demo, picks apart the Planet Monkeys latest effort in the Q Tips below and in the comments section of the NPR story: