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Market-Driven Inflation of Health Care Costs and Spreading Hardships

Posted by John Geyman MD PNHP on September 17, 2008 - 2:26pm

In a Letter to the Editor of the Wall Street Journal just days ago, John Goodman, president of the conservative Dallas-based National Center for Policy Analysis, repeats this classic premise of Milton Friedman's economic views:  "capitalism confers its greatest benefits on people at the bottom of the income ladder.  People at the top would have done well under any system. It is people at the bottom who are most liberated by markets." This view of the world has dominated U. S. politics for several decades.  As we saw in our last post, however, free markets in health care are driving up costs at three and four times the rate of cost of living and family incomes.  It is long overdue to hold this theory to account for its actual track record and its impact on people needing health care.

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