Yes, Economics Applies to Medicine Too

John C. Goodman: Why the Doctor Can’t See You – WSJ.com.

It amazes me that articles like this are necessary.  That so many people seem to believe that the fundamental principles of Economics simply no longer apply when you’re talking about medicine (or “health care” as they like to call it these days).

The facts are very simple.  Everyone on the left (and many on the right) would like you to believe that through government intervention, we can increase the quality of medicine, increase the total amount of medicine provided (by providing insurance to those who currently have none) AND lower the cost of medicine, all at the same time.

Anyone who is even familiar with the concept of a supply and demand curve will immediately know that this is impossible.  The only way to accomplish such things is through massive technological innovation combined with a fair amount of time.  But nobody advocating for state control of medicine is proposing that this will be achieved through technological innovation.  They are proposing that it will be achieved by adding an extra layer of bureaucracy.

When someone looks you in the eye and claims that more bureaucracy will increase the quality of a service, the amount of a service, and decrease the cost of a service, that is the very definition of refuge in audacity.  A smaller lie would easily be detected and discredited, but such a huge and obvious lie is assumed to have some credibility.

Thomas Sowell says it best…

Advertisements

About Dude Where's My Freedom?

My name's Matt and I love Freedom.
This entry was posted in News Link and tagged , , , , , . Bookmark the permalink.

Constructive discussion is welcome.

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s