In Part 1, I describe the market failure that has caused all the major problems in our dysfunctional health care system. Part 2 recommends straightforward government regulatory reforms that will correct this failure. Now, Part 3 describes how these market reforms will...
I wrote in Part 1 that medical care is an economic good. More specifically, it is a consumer good delivered directly to patients, primarily in the form of services. Experience has taught us that the most effective, efficient, and fair way to create and distribute...
As a proponent of market-based health care reform, I’m often accused of believing that free markets will cure what ails our broken health care system and that we just need to get government out of the way to make it all better. I believe no such thing. And I almost...
The raging health reform debate has completely obscured recent disclosures by some medical providers of shocking information that has long been held among their most closely guarded secrets: their prices. These innovators are responding to the rapid four-year growth...
I recently posted a blog on why government rationing of health care is utterly unnecessary, not to mention immoral. I’ve also written about how the current House version of health reform, supported by the President and the AMA, will inevitably herd us into a...
A health economist acquaintance of mine likes to joke that Paul Krugman is the first economist in history to receive the Nobel Prize posthumously. Since the award is given only to living recipients, his point is that Mr. Krugman’s apparent second incarnation as New...
