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Tuesday, November 03, 2009

Healthcare: too important to be left to the market?

Consider health care, which is the topic du jour and the foremost example of something that is "too important to be left to the market." First, health care is defined and revealed by the market process, and second, we can't know how much is "enough" without prices, profits, and losses. As always, claims like this are exercises in robust political economy: even if we grant the ethical assumption that health care occupies a different moral category than other goods and services, it isn't clear that a government monopoly will do better than a free market.
-- from "Common Objections to Capitalism" by Art Carden


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