This is a rather long lecture by Milton Friedman on the issues of government in medical care. As it is so long I’m not going to write a lot, but you should watch it because, despite being over 3 decades old, every word is still very relevant.
Tag Archives: free-markets
I was going to do a response to John Green’s mostly accurate but slightly misleading video “Why Are American Health Care Costs So High?”…but I really can’t beat Lee Doren’s response on “How the World Works.”
I would merely point out that while Doren is correct that we could go to out of pocket to help reduce prices, we could also get rid of the laws that created HMO’s and allow insurance companies to cross state lines. All of this would further increase competition and drive down costs even more.
Also John Greene makes a comment about tort reform only reducing health case costs by a fraction of a percent in Texas. What he fails to mention is that it has also drastically increase survival rates for patients. So tort reform led to more people living at lower costs. I don’t think dismissing them out of hand as he does is all that bright.
The Original Video
(I’m not going to include all of the links Doren references because he deserves the hit count that will come from having to go to his Youtube page to find them.)
Capitalism is the only system that has been shown to raise people out of poverty. It is the only system that benefits the rich, the middle class, and the poor. It is the only system that can bring a nation out of destitution. It is the only system that works long term. It is the only system compatible with human nature. It is the only system of economics that is ethical. It is the only system of economics that is sustainable because only capitalism creates and encourages the innovation and imagination needs to deal with the constant slew of problems that life brings.
You can either be in favor of Capitalism or you can be an idiot who knows nothing about economics, history, psychology, philosophy, ethics, human nature, politics, reason, logic or facts.
Let me say again…You can either be in favor of Capitalism or you can be an idiot who knows nothing about economics, history, psychology, philosophy, ethics, human nature, politics, reason, logic or facts. That is all.
New Rankings from Economic Freedom of the World Reveal Dismal Impact of Bush-Obama Statism (via International Liberty)
There is something terribly, terribly wrong when Canada and the U.K. rank higher than the U.S. in terms of economic freedom.