UMass Econ in the News

Gerald Friedman

Gerald Friedman, a professor of Economics at University of Massachusetts Amherst, says there is “a general rise in popular discontent” in the United States due to the country’s economic downturn. 

Back in 2009 and 2010, Americans saw a revival of the Tea Party, the right wing populism and “now with Wisconsin, with Ohio, with the Occupy movements we may see a revival of the left wing populism,” he told Press TV’s U.S. Desk on Saturday.

He also said that the public in Wisconsin is supporting collective bargaining rights of unions which state officials have been targeting as a method to balance their troubled budgets by cutting jobs and benefits. Watch the interview. (Press TV, 12/12/11)

Gerald Friedman

In an article for Dollars & Sense, Gerald Friedman, UMass Amherst economics professor, argues that universal health care is the only viable solution to soaring health care costs. According to Friedman, the cost of health insurance has been rising more than twice the general rate of inflation for decades and the share of household income spent on health care has more than doubled since 1970 from 7% to 17%. “If current trends continued,” Friedman warns, “the entire economy would be absorbed by health care by the 2050s.”

While many believe that universal coverage is is fiscally impossible, Friedman conservatively estimates that moving to a single-payer system in Massachusetts would actually save approximately 16%, even after providing coverage to everyone in the state who is currently without insurance. He believes that the percentage of savings would be higher nationally. ”This could be done largely by reducing the cost of administering the private insurance system, with most of the savings coming within providers’ offices by reducing the costs of billing and processing insurance claims.” (Dollars & Sense, July 2011)

Additional coverage of this article:

Physicians For a National Health Program, 7/1/11
Truthout, 7/5/11
Zcommunications, 7/5/11
CommonDreams.org, 7/7/11

Gerald Friedman

Gerald Friedman, UMass Amherst economics professor, appeared on WGBY’s Connecting Point to discuss the problems with our current health care system. According to Friedman, 15% of the U.S. population does not have health insurance and approximately one-third of Americans do not have insurance at some point during the year or inadequate coverage. ”We have superb health care and wonderful technology, but a growing part of the American population doesn’t have access to it.” 

Massachusetts has done a much better job than other states addressing the problem of access. In fact, 98% of residents are now covered as a result of the health care bill that came into effect in 2006. While Friedman acknowledges that this is a major accomplishment, he is concerned that we have not addressed the issue of cost. He cites accountable care organizations as a possible solution to address the rising costs of health care, but is not convinced they can work within our current insurance system. Friedman believes that ultimately some sort of national health care system, which is the system adopted by many other countries, may be the only solution.

Gerald Friedman

Gerald Friedman, UMass Amherst economics professor, and Jens Christiansen, Mount Holyoke economics professor, appeared on 22News inFocus: Decision 2010.   Friedman and Christiansen discuss the current political climate, voter motivation and upcoming mid-term elections. 

Friedman notes that most people act out of hope, not out of fear.  He believes that a democratic government can work effectively, but is concerned that voters are discouraged and will give up.  This, says Friedman, may ultimately lead them to turn toward an extremist group.  

Friedman and Christiansen also discuss the likelihood that Republicans will gain control of the House and the Senate in November and provide commentary on the gaining popularity of  the Tea Party.  (22News, 9/20/10)