Some socialists claim that whenever there is an economic problem, the market has failed and the government needs to fix it. But, if you look closely, that’s not typically true. Usually, if there is an economic problem, the market was not allowed to operate freely. A hampered market is not a free market and it is certainly not as efficient and effective as a free market.
Take, for example, the American health care system today. It is bogged down in red tape, mandates, subsidies, tax policies and regulations that are causing health care prices to skyrocket and the quality of care to decline. A truly free market in health care would increase quality and innovation and would decrease both the price for health care and the price for health care insurance at the same time.
Remember that the two health care market segments that are not regulated by government, laser eye surgery and cosmetic surgery, have seen significant prices declines in recent years. The free market works.
Government regulation and control is just a recipe for inefficiency, prices increases, shortages and rationing. Indeed, if we had a truly free market in health care today, how much lower would prices be and how much higher would quality be?
In the future, how much higher will prices be, how much lower will quality be, and how many more lives will be lost, if America goes down socialism’s social road to poverty with a government-controlled health care system?
Hampered Market and So-Called Market Failures
Some socialists claim that whenever there is an economic problem, the market has failed and the government needs to fix it. But, if you look closely, that’s not typically true. Usually, if there is an economic problem, the market was not allowed to operate freely. A hampered market is not a free market and it is certainly not as efficient and effective as a free market.
Take, for example, the American health care system today. It is bogged down in red tape, mandates, subsidies, tax policies and regulations that are causing health care prices to skyrocket and the quality of care to decline. A truly free market in health care would increase quality and innovation and would decrease both the price for health care and the price for health care insurance at the same time.
Remember that the two health care market segments that are not regulated by government, laser eye surgery and cosmetic surgery, have seen significant prices declines in recent years. The free market works.
Government regulation and control is just a recipe for inefficiency, prices increases, shortages and rationing. Indeed, if we had a truly free market in health care today, how much lower would prices be and how much higher would quality be?
In the future, how much higher will prices be, how much lower will quality be, and how many more lives will be lost, if America goes down socialism’s social road to poverty with a government-controlled health care system?