As Robert George suggests, it appears quite likely that a lot of soi-disant sophisticates at both extremes of the political spectrum may well have been wrong about the much-maligned Medicare Part-D. This really shouldn’t come as a surprise, however. It should have been obvious that anything so consistently reviled by the wing nuts couldn’t be all bad.
It turns out that the prescription drug benefit is not merely popular with the geezers, it is putting downward pressure on costs. Therefore, this interesting turn of events should also make clear that the market really does work, if our friends in
One hopes (against hope) that this point will not be missed on future policy makers with a bias toward government-mandated price controls.
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