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The Real Free-Market Approach to Health Care, Part 3

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Part 1 | Part 2 | Part 3 The only solution to America's health-care crisis is to end, not reform, governmental intervention into economic activity. What would this entail? A way of life in which people would be free: to do whatever they want, so long as their conduct is peaceful and does not intrude, in some direct way, on the rights of others to do the same; to engage in any economic activity without political permission or restriction; to enter into mutually beneficial exchanges with others; to accumulate unlimited amounts of wealth; to choose for themselves what to do with their own money-save, spend, donate, invest, or whatever. Generally, the solution to America's social woes lies in ending, not reforming, its welfare-state, regulated-economy way of life. Specifically, the solution to America's health-care crisis entails the elimination of income taxation, licensing laws, Medicare, and Medicaid. Income taxation What is the relationship of income taxation to the health-care crisis? A major part of the problem is that ...

Book Review: Failure and Progress

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Failure and Progress: The Bright Side of the Dismal Science by Dwight R. Lee and Richard B. McKenzie (Washington, D.C.: Cato Institute, 1993); 163 pages; $10.95. In An Economist's Protest (1927), English economist Edwin Cannan remarked, "Modern civilization, nearly all civilization, is based on the principle of making things pleasant for those who please the market and unpleasant for those who fail to do so, and whatever defects this principle may have, it is better than none." Ultimately there are only two ways for men's activities to be coordinated in the social system of division of labor: through either enforced command or voluntary cooperation. Under enforced command, the political authority, regardless of the ideological label under which it justifies itself, dictates and directs the use of labor and resources according to a plan devised by those controlling the coercive powers of the state. Under voluntary cooperation, men are left free, in a political system limited to the protection of the ...

The Real Free-Market Approach to Health Care, Part 1

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Part 1 | Part 2 | Part 3 In his book A Critique of Interventionism , Ludwig von Mises wrote, "Authors of economics books, essays, articles, and political platforms demand interventionist measures before they are taken, but once they have been imposed no one likes them. Then everyone-usually even the authorities responsible for them-call them insufficient and unsatisfactory. Generally the demand then arises for the replacement of unsatisfactory interventions by other, more suitable measures. And once the new demands have been met, the same scenario begins all over again." No words could more accurately describe the nature of America's so-called health-care crisis. After decades of governmental intervention into the health-care arena, the failures are apparent for all to see. But rather than root out the cause of the problem, Americans are demanding that government do something about it. What are the governmental interventions that have caused America's health-care crisis? Licensing, Medicare, Medicaid, economic regulation, and income taxation. What is ...