FYI all:  The Singularity Summit 2008 is coming up, 9am-5pm October 25th, 2008 in San Jose, CA.  This is run by my host organization, the Singularity Institute.  Speakers this year include Vernor Vinge, Marvin Minsky, the CTO of Intel, and the chair of the X Prize Foundation.

Before anyone posts any angry comments: yes, the registration costs actual money this year.  The Singularity Institute has run free events before, and will run free events in the future.  But while past Singularity Summits have been media successes, they haven't been fundraising successes up to this point.  So Tyler Emerson et. al. are trying it a little differently.  TANSTAAFL.

Lots of speakers talking for short periods this year.  I'm intrigued by that format.  We'll see how it goes.

The remarkable observation that medical spending has zero net marginal effect is shocking, but not completely unprecedented.

According to Spiegel in "Too Much of a Good Thing: Choking on Aid Money in Africa", the Washington Center for Global Development calculated that it would require $3,521 of marginal development aid invested, per person, in order to increase per capita yearly income by $3.65 (one penny per day).

The Kenyan economist James Shikwati is even more pessimistic in "For God's Sake, Please Stop the Aid!":  The net effect of Western aid to Africa is actively destructive (even when it isn't stolen to prop up corrupt regimes), a chaotic flux of money and goods that destroys local industry.

What does aid to Africa have in common with healthcare spending? Besides, of course, that it's heartbreaking to just say no -

Once upon a time, three groups of subjects were asked how much they would pay to save 2000 / 20000 / 200000 migrating birds from drowning in uncovered oil ponds. The groups respectively answered $80, $78, and $88 [1]. This is scope insensitivity or scope neglect: the number of birds saved - the scope of the altruistic action - had little effect on willingness to pay.

Similar experiments showed that Toronto residents would pay little more to clean up all polluted lakes in Ontario than polluted lakes in a particular region of Ontario [2], or that residents of four western US states would pay only 28% more to protect all 57 wilderness areas in those states than to protect a single area [3].