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But the college premium hasn’t risen for a while. What has happened, on the other hand, is a notable shift in income away from labor:

Where prices were rigid, as in goods and labour markets, fewer euros meant slow disinflation but rapid contraction in output and a big rise in unemployment.

If there had been no single currency, the northward capital flight would have depreciated peripheral currencies. Had the periphery borrowed in its own currency, that would have imposed losses on its foreign creditors while also boosting its export industry. Had peripheral economies instead borrowed in dollars or deutschmarks their debt burdens would have ballooned with depreciation, potentially pushing banks and sovereigns into default—but the depreciation boost to competitiveness would have remained. Either way, the depreciation of the currency would effectively shrink the value of wealth in the periphery.

G.E. already manages more than 100 million data-gathering “tags” on its products, and foresees putting out far more than that while also collecting sensor data around the surrounding environment.

What G.E. does not yet have nailed is just how its new products will be used.

Cisco Systems is in the middle of an “Internet of Everyhing” strategy that involves selling software and services for a world rich in sensors. This is aimed more at things like traffic and water systems than manufacturing, however.

Phillips is also offering data-gathering connectivity in both its health care and lighting products, hoping to boost the efficiency of things like a patient’s medication adherence, or tuning lights

“Everybody knows they’ll need this technology, but they don’t know exactly what they’ll do with it yet,”

a country that runs a trade surplus is, to use the old phrase, beggaring its neighbors.

It shares a currency with its neighbors, greatly benefiting German exporters, who get to price their goods in a weak euro instead of what would surely have been a soaring Deutsche mark. Yet Germany has failed to deliver on its side of the bargain: To avoid a European depression, it needed to spend more as its neighbors were forced to spend less, and it hasn’t done that.

They consider their country a shining role model, to be emulated by all, and the awkward fact that we can’t all run gigantic trade surpluses simply doesn’t register.

St. Charles noted that 144 patients tended to use the emergency room the most. Taken together, they averaged 14.25 trips each over 12 months. These patients drove much of the area’s Medicaid spending.

The majority had unmet mental health needs, even though most had Medicaid, which provides mental health coverage.

It stationed community health workers in emergency rooms, who could help assess why patients had turned up.

Of the 144 patients in the study, only 62 percent agreed to work with a community worker on a plan for their care. The others proved difficult to track down or did not want to participate.

Emergency department visits fell by 49 percent. On average, the program generated about $3,000 in savings per patient.

“I’m reassured by people talking about the role primary care providers need to play,” said Ern Teuber, the clinic’s executive director. “Still, when we start talking specific dollars, the perception is there isn’t enough money to go around and that somebody has to lose.”

It’s a huge issue, and there’s no doubt that hospital business models are going to have to change,”

“Medicaid by itself isn’t enough to change things,” he said. “For a lot of hospitals, it’s maybe 7 percent of their business. We have another 600,000 people the state covers.