The Real Cost of Piano Lessons

Who is John Galt? ^ | 09/11/2009 | "John Galt"

[cpurick]

During Wednesday's speech, Obama said, "...in the United States of America, no one should go broke because they get sick."

Now, a statement like that should ring alarm bells. Because if you're really sick -- too sick to work, for example, and sick for a long time -- then even with free healthcare a prolonged disability will easily leave you bankrupt.

All of this makes me question the benefits of guaranteeing that nobody be bankrupted by medical costs. In particular, I'm reminded of free-market economist Friedrich Hayek, and what he called "absolute security."

You see, Hayek was not opposed to social safety nets. He argued that a wealthy society can afford to provide "limited security" to its citizens who fall on hard times. But Hayek warned repeatedly against "absolute security" -- that is, against "the security of a given standard of life, or of the relative position which one person or group enjoys compared with others."

What Hayek warned against, specifically, was guaranteeing that people would not become poor.

[rovenstinez]

Yeah, if you chain smoke, and get excessive in drinking, if you lay around on the couch all day and never exercise, and sleep all around with no unprotected sex, not getting adequate rest, and pig out on junk foods, and hate everyone. You shouldn’t have any reason AT ALL to get sick,...and if you DO...you shouldn’t go broke. The guv’mint ought to take care of you...and make sure you have a cell phone so you can call 911 when you need an ambulance.

[Havisham]

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