Tuesday, June 06, 2017

WORSHIP OF THE INVISIBLE HAND?

NATE FOWLER posts (5 June) on MINN POST HERE 
Congress shouldn't treat health care like an efficient market”
“While we should rightfully worship Adam Smith’s “invisible hand” for all that it has given us, it must be realized that this success does not negate the government’s ability to do good in industries that fail to distribute efficiently and equitably. Just check with the rest of the developed world.”
COMMENT
... “rightly worship the invisible hand”? (!)
Health Care, as practised in the USA, is not “health care” - its a bet that if you need health care you are insured for some proportion of the high medical costs of a lack of care with a degree of access to a remedy.

Meanwhile, there is no “invisible hand" to "worship", whatever that is supposed to mean ...

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