December 22, 2009

GOVERNMENT HEALTHCARE: Trust-Buster, or Cartel-Builder. Probably the latter, sold as the former. “Needless to say, if you think monopoly bargaining is the problem in health care, our cost problem is going to get worse, not better. Think of the one area where we see the most customer complaints: quasi-public utilities like the cable and phone companies. They also have a rather ponderous rate of innovation, and no particular interest in controlling their costs. That’s not an accident; it’s a feature of a regulatory structure that starts from provider costs and works up to what extra percentage they will be allowed to charge essentially captive consumers.”

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