Tuesday, April 30, 2013

Why The T&T Health System Is Failing

We have for years read and heard complaints of the poor service delivery and malpractice at public and private hospitals. Yet despite massive infusions of cash they continue to under-perform. A basic economic analysis can allow us to easily decipher why. 

The Problem With Free Healthcare

It is a common belief that when government provides something, it is free or cheap. But in reality its actually the most expensive and inefficient way to provide service. This is so because politicians cannot create wealth or resources – they can only personally consume it or redistribute it. 

Remember money for all government spending comes from the private sector / business by way of taxes on profits and the salaries of the general population -therefore the state can only spend your limited tax dollars on one area at the expense of another.

When the price of public health care is mandated to $0 as with any other service demand dramatically increases and this causes shortages, since doctors, nurses, supplies, beds etc are all in limited supply. 

Tuesday, April 23, 2013

The Economic Cost of an "Outside Woman"

Everyone acknowledges that to philander is morally reprehensible on the most basic level but few often rationally consider the economic cost associated with the activity even more so when one is in a committed relationship. This article considers the associated costs of the practice especially when considering that no man has unlimited resources and must use these limited resources to maximise his overall well-being.  

1. The costs of gifts and tokens of appreciation that must be provided to both/all women to maintain the fa├žade that a special relationship still exists. He must ensure that he remembers to buy gifts for Mary and Jane for their anniversaries,  birthdays, valentines day, Christmas day, special carnival fetes etc. Engaging in adulterous behaviour essentially doubles expenditures on gifts, movies, dinners and other entertainment related expenses. 

This principle is predicated on the fact that all voluntary relationships occur because either party  perceives to derive some benefit from engaging in the relationship -whether pecuniary or otherwise.

Thursday, April 18, 2013

Seven Ways Engaging In Corruption Is Personally Detrimental

Corruption continues to persist and often times persons look on with feelings of jealousy or envy. However many times they or the corrupt persons don't consider the severe and adverse effects of engaging in such behaviour in the long run. 

Posed another way; what happens when people of low integrity are bestowed with significant sudden wealth by virtue of a cushy government contract or nefarious deals? It grossly exaggerates and magnifies their character traits, behaviour and the resulting consequences.

Here are some of the seeds being sown when one engages in skulduggery.

1. Moral Authority To Lead is Lost

The person is suddenly robbed of the credible moral authority needed to steward and lead others especially his children. He can therefore no longer advise, admonish or discipline his children (or employees) who may engage in immoral behaviour as he has no moral grounds to do so. His children therefore become compromised especially as they observe his corrupt behaviour. He may gain financially but slides closer to losing what should be his most precious treasures --his children / family who are now at a higher risk of becoming wayward. 

Monday, April 15, 2013

Three Reasons For Poor Customer Service in T&T

A common complaint by Trinbagonians is the persistent lack of customer service. Yet it is spoken of like a plague that has afflicted T&T from another realm when upon closer observation we can easily pin point from where the predicament emanates. 
1. Limited Competition

In the recently released The Global Information Technology Report 2013 T&T ranked 88th out of 144 countries in Intensity of Local Competition. Moreover T&T was ranked 126th in the number of days to start a business at 41 days. This lack of competition limits consumer options for the provisions of good and services and constrains the consumer's ability to discipline errant service providers.

Tuesday, April 9, 2013

Another Housing Policy That Will Backfire

Persons earning less than $8000 a month to get 0 down 2% interest for homes up to $450K

"Cabinet decided to make it possible for citizens earning less than $8,000 a month to buy their first home, with zero down payment and at a two per cent interest rate for homes up to $450,000."

Unfortunately this is another programme that will backfire. The government has effectively, artificially and arbitrarily increased the floor price of property in Trinidad and Tobago to $450,000. 

Moreover, this policy is going to further inflate property prices by injecting more cheap money into the property market while the supply of homes remain stagnant. Prices will therefore increase correspondingly negating the original intent of the policy.

Read: The Real Reasons Why Real Estate is So Expensive Trinidad & Tobago

Friday, April 5, 2013

Five Majors Causes of Traffic in Trinidad & Tobago

Everyone acknowledges that Trinidad has a severe motor vehicle traffic problem. In this article we explore the primary causes and also indicate the simple solutions that can be applied to solving this major drag on T&T's productivity.
Primary reasons for traffic woes: