Date1751
SourceBeerStreet.jpg and GinLane.jpg
Author
William Hogarth (1697–1764)
Permission
(Reusing this file)PD-old artwork
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This work is in the public domain in its country of origin and other countries and areas where the copyright term is the author’s life plus 100 years or fewer.
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Best of @RichardAEpstein 2017: 2 of 2: Single-payer Blues.
http://www.hoover.org/research/single-payer-siren
The United States is facing another crisis in organizing its health care system. It is clear that the private exchanges concocted under the Obama administration are failing at a record rate for the simple reason that they violate all known sound principles of insurance. The planners who put these programs together unwisely thought that universal coverage would overcome the standard insurance problems of adverse selection and moral hazard. But that didn’t happen. The failure of the Affordable Care Act was predictable before the ink was dry on the page. But now that the results are in, there are all too many people who think that the cure for excessive government regulation is the complete takeover of the health care market, here in the form of a single-payer system. They couldn’t be more wrong . .
