Economics of Chaos

I am at present receiving great care through Medicare and a not for profit health group in Manhatten, Kansas. I also am lucky enough to have a supplement through AARP. On three previous occasions, in different parts of the United States over the past 40 years, I have had serious health problems and I received excellent care. It is my opinion formed by those personal experiences that most healthcare in the United States is excellent. In the 1960's, I was treated for pneumonia in Dublin and my care there was excellent and I was never billed. Up the Irish for that one! I am well aware that I've been very fortunate and I would like that to be the case for everybody. I would love to see FREE UNIVERSAL HEALTHCARE FOR EVERY PERSON ON THE PLANET. However, I would also like a ray gun, high fiber chocolate and another few hundred years to live and prosper. Sadly, I do not think any of those things are going to happen in my lifetime. As an economist, I look at problems from the perspecti...

The Lack of Competition It is my opinion that there is no efficient reason for a complicated and expensive government run healthcare system in the US. There is mounting evidence that these systems are virtually unmanageable and that such systems simply do not deliver quality care. Conversely, many politicians and a fairly large segment of the public still hold dear to the idea that health care should be universal and run by the government. Estimates on the cost vary but many critics and proponents of a big government healthcare system agree on a figure of at least ONE TRILLION DOLLARS or 100 Billion a year over the next ten years according to a recent CNN broadcast special on the subject. The second sting of this is that the plan will not even take effect for a minimum of three years and will not be in full coverage mode for six years. Sadly, those are probably optimistic predictions. Given the track record of big government, odds are it will take longer and cost more. Many well inf...

The Chaos In Healthcare. Debate is now raging throughout America about our healthcare and medical insurance systems. The Obama Administration and the Congress are expected to propose legislative and policy reforms that will greatly expand and change the role of government in the healthcare arena. These sectors of our economy are huge; estimated to be 1/6 or almost 17% of the American economy. There is a consensus that chaos exists in the areas of healthcare and health insurance but it is a peculiar chaos. By many measures these sectors are doing very well; almost 85% of Americans are covered by some kind of health insurance and the actual delivery of health care to patients throughout the United States for the most part is effective and far reaching. Less than 5% of the population who want to get insurance are unable to obtain it. The very poor and uninsured are mandated care by law through emergency room facilities. Compare this reality to some other American institutions: education...