Robert Fogel on Health Care
By Arnold Kling
Don’t be afraid of it; it’s actually the leading industry. The demands of healthcare are going to pull all other industries forward…I say if this were a privatized system, we would all say “gee it’s wonderful. All these people want more health care, this industry is thriving”.
What he is suggesting is that the reason that we berate ourselves over all the money going to health care is that government is paying for it. If the money were coming from personal spending, nobody would be saying that people should be spending less on health care and more on entertainment or toys.
Keep that in mind when people tell you that the real problem in health care is excess cost.