Wednesday, July 30, 2008

WSJ Hit Right Notes on Bay State Budget Blues Piece

By Paul Hsieh

Categories: Care Without Insurance, Insurance Regulation, Massachusetts, Nanny State

The Wall Street Journal's oped this week criticizing the cost overruns of the Massachusetts "universal" health care plan is right on target.

It's important to recognize that all the problems outlined in the piece arise from government interference in the free market. Patients, providers, and insurers are not allowed to negotiate voluntarily in the free market for their mutual benefit, but instead must do so under constraints designed to somehow guarantee health care for everyone. Adverse economic results are a consequence of this basic violation of their right to contract.