Greg Mankiw on the public health insurance option: "Even if one accepts the president’s broader goals of wider access to health care and cost containment, his economic logic regarding the public option is hard to follow. Consumer choice and honest competition are indeed the foundation of a successful market system, but they are usually achieved without a public provider. We don’t need government-run grocery stores or government-run gas stations to ensure that Americans can buy food and fuel at reasonable prices."
I doubt that anything but public monopoly (in selling insurance to citizens)-monopsony (in paying healtch care providers) will be the long-term result of Obama's desired legisltation, if passed. Neither will make this a better country for our children.
Link via JC Bradbury