Thursday, September 10, 2009

The Most Accurate Diagnosis (forgive the pun) of the Health Care Issue Yet

By Nick Gillespie:

Doctors and other health professionals, who assiduously work to limit the number of health care providers in a given field, bitch and moan all the time about how Medicare, Medicaid, and private insurers are driving down reimbursements for basic procedures. Yet somehow the overall cost of health care goes up, up, up. It's because the system, including the vague reforms being championed by Barack Obama in a speech designed to lay out his plan in detail, really don't do anything to empower the person at the center of the drama—the patient, the customer—with the sort of choices that might actually trigger changes that will either curtail costs or, same thing, improve the range and quality of services so that we are happy with the money we're shoveling out.

Whole thing here. The President is either the least astute economic thinker that I have ever heard discuss economics, or he is calculating used-car-selling shyster. Considering his time spent at the University of Chicago, I am confounded by his inability to understand the concept of price incentives.