Posted on 08/19/2009 11:05:54 PM PDT by dajeeps
Nobel Laureate Economist Milton Friedman explores the unsettling dynamics set into motion when government imposes itself into the health care system. Speech given at the Mayo Clinic -- 1978
(Excerpt) Read more at youtube.com ...
bookmark
Milton's views on Inflation were especially good . Ronald Reagan , not yet president, had his endorsement in the book.
It was because of this I knew Inflation, which the MSM typically painted as an incurable problem, would be solved by Reagan after after he won.
(This trust failed me with Schwarzenegger. He praised Friedman before he was elected only to become an economic girly man after the election)
Briliant.
ping
Thanks much!
bump TTT
Astonishing insight, once socialized medicine has been established, there are no further votes to garner by establishing it a second or third time, and the motive, aside from bureaucratic motives becomes containing costs, as Limbaugh notes.
BFL
He made abstract concepts understandable.
"There are four ways in which you can spend money.
1. You spend your own money on yourself - You shop in a supermarket, for example. You clearly have a strong incentive both to economize and to get as much value as you can for each dollar you do spend.
2. You spend your own money on someone else - You shop for Christmas or birthday presents. You have the same incentive to economize as in the first case but not the same incentive to get full value for your money, at least as judged by the tastes of the recipient. You will, of course, want to get something the recipient will likeprovided that it also makes the right impression and does not take too much time and effort. (If, indeed, your main objective were to enable the recipient to get as much value as possible per dollar, you would give him cash
3. You spend someone else's money on yourself - lunching on an expense account, for instance. You have no strong incentive to keep down the cost of the lunch, but you do have a strong incentive to get your money's worth.
4. You spend someone else's money on someone else - You are paying for someone else's lunch out of an expense account. You have little incentive either to economize or to try to get your guest the lunch that he will value most highly. However, if you are having lunch with him, so that the lunch is a mixture of case 3 and case 4, you do have a strong incentive to satisfy your own tastes at the sacrifice of his, if necessary.
All welfare programs fall into either case 3for example, Social Security which involves cash payments that the recipient is free to spend as he may wish; or case 4for example, public housing; except that even case 4 programs share one feature of case 3, namely, that the bureaucrats administering the program partake of the lunch; and all case 3 programs have bureaucrats among their recipients."
---Milton Friedman, "Free To Choose"
How to Cure Health Care; By Milton Friedman
Readers Digest Version for liberal bloggers and White House and Congressional radical Socialists who claim Conservatives and Libertarians don't have a plan. We have one, you just don't like the idea that you wouldn't control it.
1. Repeal the tax exemption for employer provided medical care.
2. Terminate Medicare and Medicaid
3. Provide every American citizen with catastrophic insurance. Major medical with a high deductible.
4. Increase the use of tax free Medical Savings Accounts.
5. Deregulate insurance so that consumers can shop for a la carte coverage across State lines.
If anyone is interested in the “Free to Choose” video series it’s posted here:
Thanks. Must watch TV.
5 simple steps to true health care reform. I love it. It won’t happen peaceably. Freedom never does.
As Mark Levin says in his book, this is just a “soft tyranny”. Not quite time for outright rebellion.
BOOKMARK!
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.