« Causality in Copenhagen… | Main | Keeping it Simple for Financial Geniuses… »

TrackBack

TrackBack URL for this entry:
http://www.typepad.com/services/trackback/6a00d83452a7b869e201156e3b64d8970c

Listed below are links to weblogs that reference Curse of Living in the Meso-scale…:

Comments

vfwh

I don't get this "oh my god how can we explain to people how big this is?" meme that's been going around the media, that keeps reinforcing in people the idea that we're all really too dumb to get the point of important policy decisions.

There's a perfectly simple way of putting it: hospitals or schools. How many hospitals or schools would this be able to fund the annual budget for? Or how many patients medical bills would it pay for? How many pupils would it educate?

Then, to compare, give the number of hospitals or schools currently in operation in the US, or the world, or California, whatever, or the number of pupils or patients treated per year... you get the point.

Enough with the pile of quarters or stacks of singles already. Being able to visualize masses of quarters on a football field does not get people any closer to understand how much wasted value this represents.

Figuring out how many hospitals or schools this would pay for would give people more of a sense of reality, in terms of actual things that we care about.

For instance, I'm in Paris, I just checked quickly. The annual budget of a single hospital is on average 160M euro, about 200M dollars.

One trillion dollars would therefore be able to fund:
1,000,000,000,000 / 200,000,000 = 5,000 hospitals for a year, or 5 hospitals for a thousand years. Or 50 hospitals for a century.

I'm guessing there are about (order of magnitude) 750 important general hospitals in the US today.

So one trillion dollars would be able to fund all the general hospitals in the US for 1,000,000,000,000 / (200,000,000 * 750) = 6.7 years.

Assuming the cost of the bailout will be about 3.5 trillion (some say more, but let's remain conservative), then the bailout could basically provide free healthcare to most americans for 3.5 * 6.7 = 23.5 years.

I'm sure the numbers are wrong in several places, but not in orders of magnitude. So there would be no money for healthcare coverage, but banks can get the equivalent of over 20 years of healthcare for almost all americans. That means no medical bills for you, your neighbours, your friends, even the folks you don't like, for 2 decades.

Doesn't that make it a little more real? I just did this with a couple of Google searches and a little extrapolation in under a half-hour. Surely someone with actual resources and time, like a media outlet, could figure out more accurate numbers, and also run school scenarios. I wonder why they don't.

Verify your Comment

Previewing your Comment

This is only a preview. Your comment has not yet been posted.

Working...
Your comment could not be posted. Error type:
Your comment has been posted. Post another comment

The letters and numbers you entered did not match the image. Please try again.

As a final step before posting your comment, enter the letters and numbers you see in the image below. This prevents automated programs from posting comments.

Having trouble reading this image? View an alternate.

Working...

Post a comment