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Legal Commentary

: Althouse

"Here in the United States,we spend about 17% of our GDP on health care, but out-of-pocket expenses make up only about 12% of total health-care spending."

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"In Switzerland, where they spend only 11% of GDP on health care, their out-of-pocket expenses equal about 31% of total spending. The difference between 12% and 31% is huge. Once people begin spending substantial sums from their own pockets, they become willing to shop around. Ordinary market incentives begin to operate. A good bill would have encouraged that."

Economics Nobelist Gary Becker thinks it would have been easy to draft a good health care bill, but what we got is bad. Still, he's optimistic.
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Full post as published by Althouse on March 27, 2010 (boomark / email).

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