made, butuge progress there was nontrivial progress made through policy. second, you will see deregulation. ,f you look at the stock market it is entirely concentrated among financial industry stocks. they are doing very well all of a sudden. for reasons i think that are not very hard to understand. consumer protection -- consumer finance attention board which was signed up under dodd frank and has said tens of billions of it iss for consumers -- likely to end up on life support. environment of protection, there are likely to be dramatic changes. many of which are likely to be pursued through a trumped administration without further legislative action. we are likely looking at a regular -- and it a radical transfer -- look at a radical transfer of the welfare state not only with the affordable care act but medicare. -- this a prospect that is likely to be contentious, and i think it would suggest that congressional democrats are going to plant their flag in trying to defend medicare. there is a real prospect, though, of moving towards what is essentially a

so it's a nontrivial aspect of this greater phenomenon. i mean, i think that there is a fair amount of work that has been done at a suggesting actually that the churning in the labor market has been going down, not up and that the decline may actually be sent in that we need to be a little bit worried about. >> i think that's right. i think it is true that watching globalization are changing over the people's lifetime. there are people whose jobs they could no longer do the job they did because the job has changed. on the macro level, there is less of people moving, changing jobs than there was then that is one of the explanations economist said on the productivity growth. somebody wrote in and asked about whether you did this summer that the people who may be one satisfactory or blue-collar construction job to go work in a wal-mart or nursing home that there's some self-respect or statement associated with that part of it. >> that's a very good question. i'm not sure that i can answer this question. i think that we need a poet laureate mo

so it's a nontrivial aspect of this greater phenomenon. i think there's a fair amount of work that has been done that is suggesting actually that the churning in the labor market has been going down, not up. and that the decline in churning may actually be something that we need to be a little bit worried about. david, you may have some -- >> i think it's true that technology and globalization are changing over peoples lifetime. there are people whose jobs, they can no longer do the job they did because the job has changed. it on the macro level there is less of these people moving. changing jobs than it was. that's one of the explanations economists offer for the slowdown in productivity growth. somebody wrote in an estimate whether you think there's a a reluctance of people who may be one satisfactory or blue-collar construction job to go work in a walmart or nursing home, that their son son, i don't know, self-respect or stigma associated, but that's part of this. >> a very good question, and i'm not sure i can answer this question as a

all the nontrivial progress that was made over the last few years in reducing inequality -- i don't want to say there was huge progress made but there was considerable progress made through policy. it will be undone very quickly through tax cuts. you will see a lot of deregulation. you will see deregulation with respect to finance. if you actually look at the stock market i have taken the stock market over the period since the election its entirely concentrated among financial industry stocks. they are doing very, very well all of a sudden for reasons that i think are not that hard to understand. consumer protection, the consumer finance protection board, for example, which was set up under dodd-frank in which has saved tens of billions of dollars for consumers is likely to end up on life support. environmental protection, here again likely dramatic changes. we are likely looking at radical -- not just whatever is going to happen to the affordable care act but medicare is clearly on the chopping block. there is a prospect this is likely to be contentious and i think this is a place where

that's nontrivial. critical thinking. >> i agree with what greg is saying, and obviously i wouldn't be here if i wasn't concerned. but we ned to just be a little tempered. one great thing about teaching in most environments is when you close the door, you can do whatever you want. most jobs aren't like that. there's a problem waist, too. some people aren't doing very much or doing some that's actually quite bad. but you have an extraordinary amount of independence. and when i was a k through 12 teacher would say what the best sound is and just close to the door. and so i found in the recent round debates at penn that frankly the only students and factually members who have been highly critical of me are people who don't know me, aren't in my classes to, two holm aaye just a cartoon, some white guy whose side burns are going gray i rare than an actual human being. i've been able to conduct any own classroom debates. we can do that. that's the freedom we have. now, i would agree that because of these diff

that's nontrivial if we're talking serious about debate on campus and what their supposed to do, critical thinking. have you noticed that as a teacher? >> i have. , again, i also think we just need to be a little bit more tempered, right? one of the great things about teaching in most environments is when you close the door, you can do whatever you want. [laughter] you know? most jobs respect like that. and there's -- aren't like that. and there's a problem with that, too, right, because some people aren't doing much or doing something that's quite bad, right? but you have an extraordinary amount of independence, you know? and when i was a k-12 teacher, i would often say you know what the best sound is? i would just close the door. [laughter] you know? and so, you know, i've found in the recent round of debates at penn that, frankly, the only students and fact i allty members -- faculty members who have been highly critical of me are people that don't know me, that aren't in my classes, you know, to whom i'm really just a cartoon just like some white guy whose side burns are going gray, r

rewards, but as long as the metrics are the same or capable across all payer, then you can get to nontrivial official efficiencies. also, claims adjustment al gor it ms. 20 cents for a hospital to get paid. that's about having different payers with differentes about how to get a claim accepted. what if we had standardized ways to do that and you know damn well we do, we just don't have the courage to enforce those standards in way that would achieve the efficiencies that he's talking about. it is chooifable. we just have to have a little more target ed curve. >> you u don't have to have one size fits all standards if technologists can play a role on the interface for providers and payers and the like. that's restricted by antikick back laws, problems with hippa, et cetera. that's a whole area of work where it's not very sexy, but where we need to spend more time so that the athena healths and whoever else we want to put in that bucket can do the work et cetera. tosh able to interface and create a system where everyone can work together and they'll take those costs out of the system. the prob

long as a provider has clear incentives that are applicable across all payers, then you can get to nontrivialefficiencies. i will also remind everyone of the claims adjustment algorithm. a lot of the billing stuff that doc spend money on, what is it 20 cents for the hospital to get paid and $.35 on the dollar, that's all, that's all about having all these different pairs with different rules about how to get a claim accepted. what if we had standardized way to do that, and you know damn well we do, we just don't have the courage to them enforce those standards. it is achievable we just have to have a little more targeted courage. >> this is where healthcare it can play a role. you don't you don't have to have one-size-fits-all if technologist can play a role in being the interface decision on support tools for providers and payers and the like. that is restricted by anti-kickback laws, hip out, etc out, et cetera. that's a whole area of work where we need to spend more time so athena health and whoever else we want to put in that bucket can do the work to be able to interface and create a sys

general mattis is a much more vigorous type and not it's actually nontrivial. i believe. so it seems to me would be the largest differences that you're dealing with. general marshall finally did have one enormous challenge and that was of course dealing with general macarthur whom he did not like, but to be tended to respect as the guy who's in charge and macarthur was a different kind of problem. >> i would add two other factors, one related to at elliott just bad, that he served a very short period of time and in fact all evidence points to the fact i was a prearranged agreement, that he would only serve for a limited here to time. he was helping the president out if you will in the case where you have as you reference earlier a secretary of defense who is not working out to him, so this was a way to transition with a popular, politically popular figure in the case of general marshall. you can price how much of that is similar and different in this case, but it is the fact that it wasn't is out of date secretary of defense. it was more of a transitional approach. the ot