There are a couple of CF&P videos (here and here) explaining how government intervention has messed up America’s healthcare system. And I gave a speech a few years ago that echoes those findings.
Now here’s a video making similar points from Professor John Cochrane.
I’ve decided to revisit this issue because Brian Thompson, the CEO of a health insurance company, was recently murdered. And the alleged assailant was a privileged young man who apparently thinks such businesses are greedy.
I’m sure the shareholders of such companies want to see profits, but the industry as a whole is not very successful at gouging consumers. Here’s a screenshot from Noah Smith’s analysis, which shows that neither Brian Thompson’s company nor the other big players earn much money.
If you read Smith’s article (and you should), you will see that he makes lots of interesting international comparisons and concludes that the big problem with U.S. health care is that providers are the ones charging high prices.
Smith then goes off the rails by suggesting the U.S. should have government-run health care, but that’s why I started this column with Prof. Cochrane’s video.
The solution to America’s inefficient and expensive healthcare system is less government, not more government.
After all, we don’t want to jump out of the frying pan (America’s government-distorted health system) into the fire (anything akin to the awful systems in countries like Canada and the United Kingdom).
P.S. If you like videos that explain how government has screwed up the healthcare system, more are available here, here, here, here, and here.
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Image credit: Pictures of Money | CC BY 2.0.
