Friday, December 14, 2012

After the ACA

Earlier in the Fall, John Cochrane wrote an excellent paper on health care policy, "After the ACA: Freeing the Market for Health Care." Check it out if you want a quick and thorough education on the awfulness of the modern health care system.

My favorite line:

"How occupational licensing is captured to restrict supply and push up prices should be obvious by now –
Milton Friedman wrote his PhD dissertation on it. If you’re a parent, you’ve been through it. It’s 2 am in
a strange city. The kid has an ear infection. He needs amoxicillin, now. Getting it is going to be a 3 hour
trip to an emergency room, hundreds of dollars, so a “real doctor” can peer in his ear, then off to the
pharmacy to fill the prescription. A nurse practitioner at the Wal‐clinic could handle this in 5 minutes for

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