Mass. health costs still soar, NY Times spreads fallacy about fee-for-service health care
The fundamental problem in health care is not that we are using too much of one payment mechanism (e.g. fee-for-service) and too little of another. The problem is that the person who benefits from the service is not the same as the person who pays the bill. Continue reading
No surprise in Massachusetts: Central planning still fails
The Dec. 11 Associated Press article about health care in Massachusetts illustrates why central economic planning will always fail. As Nobel laureate Friedrich Hayek wrote: “The curious task of economics is to demonstrate to men how little they really know about what they imagine they can design.”
