As usual, FoIB John Goodman has the definitive takedown of why so many on the left just don't 'get' the economics of health care [ed: To be fair, lots of rocket surgeons on the right are equally ignorant]. In his latest Forbes essay, John points out that:
"Editorials like the one in the Times tend to treat a dollar spent on health care as though it is different from a dollar spent on something else. It isn’t. It’s the same dollar ... In a Public System, Patient Needs Compete against Taxpayer Needs"
He also notes something else that often goes unremarked: that Medicare plans are generally administered by private (commercial) insurance companies.
And why is that?
Well, you'll want to read the whole thing to see why that actually makes a lot of sense.
[Hat Tip: Co-blogger Bob V]
"Editorials like the one in the Times tend to treat a dollar spent on health care as though it is different from a dollar spent on something else. It isn’t. It’s the same dollar ... In a Public System, Patient Needs Compete against Taxpayer Needs"
He also notes something else that often goes unremarked: that Medicare plans are generally administered by private (commercial) insurance companies.
And why is that?
Well, you'll want to read the whole thing to see why that actually makes a lot of sense.
[Hat Tip: Co-blogger Bob V]
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