America's RICO (Racketeer Influenced and Corrupt Organisations) Act has allowed lawmakers to bust open many criminal and corporate criminal enterprises that were otherwise too hard to convict. Australia desperately needs similar laws.
Would an actuary tell a lie? Or a fib? Or make a 'misrepresentation'? This article says 'yes' — at least to the fib level — and reveals a very tricky bit of number crunching that actuaries use to make themselves look smart.
Many medical specialist earn (after costs but pre-tax) in excess of $1 million per annum.
The main solution would be for the federal government to fund many more registrar positions in state government hospitals. This would generate more skilled specialists, and competition would drive their prices down.
While Australia has one of the best and more cost effective health systems in the Western world, it suffers from a major anomaly. The Federal Government pays (via the Medicare Levy and other taxes) all of the standard costs of Medical Procedures and General Practitioner Costs. The State Governments pay for the costs of running and staffing Public Hospitals.
This “golden” number, 1.61803399, represented by the Greek letter Phi, is known as the Golden Ratio, Golden Number, Golden Proportion, Golden Mean, Golden Section, Divine Proportion and Divine Section. It occurs everywhere in the world around us.