Government price fixing: Health care edition

posted by
December 18, 2011
Adam Smith Institute
by Tim Worstall  
Posted in Commentary

"You'll all be aware of the horrors with which the introduction of vaguely market like things into the NHS is causing our lefty bretheren. The idea that prices might be fixed by the supply and demand of something just makes them shudder. Surely they cry, government, the wise, fixing them would be better? After all, we don't want to end up with a health care system like that of America, do we? Well, actually, no, we probably don't want to end up with the American health care system which is just why we don't want the wise, the government (sorry, that conjunction just makes me laugh so I've repeated it) fixing those prices. We'd much rather let markets do that for us." (12/18/11)  

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