Friday, July 18, 2008

Can Ignorant Consumers Still Buy Health Care?

Categories: Medical Tourism

Is health care so complex that it must be entrusted to experts, such as people in government agencies? The blotter behind Healthcare Manumission says no: "There is indeed an asymmetry of information in medical care. That much is indisputable. There is also an asymmetry of information in law, auto repair, computer technology, and countless other realms where we yield to the wisdom of those we consider experts."

And yet we don't expect government to organize an "automobile maintenance organization." Nope, consumers figure their way around in markets all the time--and health care is not excluded.