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Because the thing that tech hasn’t solved yet is misaligned incentives. No amount of advanced technology will counteract an organization or industry thats incen
by KoftaBob 7y ago
Because the thing that tech hasn’t solved yet is misaligned incentives. No amount of advanced technology will counteract an organization or industry thats incentivized to be inefficient.
Especially in the case of universities which are largely “non profit”, as are the majority of hospitals. Without shareholders to push for increased efficiency and price competition, the leadership has little reason to care about that.
It should be no surprise that as a result, college education and healthcare are two of the biggest expenses Americans deal with. Misaligned incentives.
- amiga_500 7y agoHow did they function for centuries before, when shareholders were not demanding increased efficiency? College in the USA is expensive because of the credit available. That is how prices are set.
- KoftaBob 7y agoIt is mostly due to the credit available, I totally agree.
- s1artibartfast 7y ago>How did they function for centuries before, when shareholders were not demanding increased efficiency? They only served the rich elite