Healthcare was very affordable for my middle class parents during the 1960s when I was young. There was minimal government intervention in the free market for healthcare in those days. Service was great, and prices were reasonable.
Fast forward to the present. Politicians meddle in virtually every aspect of healthcare, regulating procedures, mandating coverages, specifying paperwork, subsidizing care, and restricting interstate competition for insurers. Healthcare has become enormously expensive. Any question why? Because free market healthcare has been made illegal by politicians. The more they meddle, the higher the cost.
The other major market with large-scale political interference is education. I now leave it as an exercise to the reader to explain inflation in education costs.
2 comments:
Tell me about it... It is ridiculous that health insurance costs almost $300/month and even then it that has so many exclusions and limitations.
You might be interested in the Op-Ed piece Whole Foods CEO John Mackey wrote on healthcare for the Wall Street Journal. Like me, he sees the cost problem mostly due to political interference in the free market. See http://www2.wholefoodsmarket.com/blogs/jmackey/2009/08/14/health-care-reform-full-article/
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