John Stossel writes at Townhall about the magical thinking that has accompanied Barack Obama’s election victory, pointing out that health care can’t be fixed by executive order or act of Congress:
We can’t make medical care universal and inexpensive by legislative fiat.
He goes on to quote Libertarian economist Sheldon Richman on the inevitable economic effects of the wrong-headed health care policies advocated by our new President-elect:
A subsidy for medical insurance increases the demand for services and raises prices. A price ceiling makes those services less available.
These effects are inevitable because the laws of economics are not artifacts of Western culture or free-market capitalism, as so many seem to believe. They are laws of nature.
The more we ignore the laws of economics, the faster we travel down the road to serfdom.
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