Public Options
According to the clichés of political discourse, the Obama administration is trying to "move the country forward" by, for example, overhauling the health care system.
The president's agenda includes a "public option" for health insurance, the purpose of which is to "keep the industry honest" and hold down costs.
Is that idea as progressive as progressives believe? Perhaps not.
In Crisis and Leviathan, Robert Higgs relates some history from WWI, when "ocean freight rates increased by a factor of five to 10 or more, depending on the commodity and the route . . . . William Gibbs McAdoo, the secretary of the treasury . . . characterized [the rates] as 'absurdly high' and productive of an 'orgy of profiteering.' As early as August 1914 he conceived a plan to alleviate the shipping shortage: The government would regulate rates and operate competing ships on its own account."
Truly, there is nothing new under the sun.
Perhaps Republicans opposed to the public option for health insurance should ask why Democrats are trying to turn back the clock.
Advertisement
Reader Reactions
Turn back the clock back? Would be nice to “turn the clock back” to when our health care delivery system consumed only 6-8% of GDP, but those great days a long gone; all consumed by profiteers.
How about addressing the crisis, as is, that will financially collapse our nation in about ten years? We strive to recover from the current financial crisis, all while we have people with blinders who won’t see the current crisis soon to destroy our economy, and it won’t be as quick to recovery, as current one.
Hello! We are heading toward a health care delivery system that within few years will consume 25%+ of our nation’s gross domestic product, all while competing countries in the world economy long ago gained control of their costs (Germany’s has remained 10.6 to 10.7% of GDP for ten years, as ours hits 18% this Y2009).
Does anyone care?
So what’s the point? That more competition makes prices higher? You don’t explain the cause and effect, just the usual insinuation that everything government touches is bad.
Post a Comment(Requires free registration)
- Please avoid offensive, vulgar, or hateful language.
- Respect others.
- Use the "Flag Comment" link when necessary.
- See the Terms and Conditions for details.
Advertisement