Economics of Healthcare

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    Why is healthcare so expensive? What can we observe that caused it to become unaffordable?

    What are the negative things that happened in terms of people’s healthcare as a result of Obamacare? I’m ashamed that I don’t really know what to say when people who support Obamacare and a single payer system say “What’s wrong with helping people get healthcare?”.

    What was the opportunity cost of the poor now being able to have healthcare under Obamacare?

    What is the free market alternative, both theoretically and in terms of things we may observe?

    How can we help people who are poor get healthcare without Obamacare or a single payer system?

    What is the primary problem economically with a single payer system?


    1. The price of anything is determined by demand and supply. Healthcare is expensive because governments increase demand and decrease supply. They increase demand through direct payments and through the tax incentives for third-party insurance. They decrease supply by regulations such as licensing doctors, nurses, etc. and limiting the output of medical schools.

    2. Here’s a primer on Obamacare.

    3. Here’s material on free-market healthcare.

    The Wonders of Real Free Market Medical Care

    4. Before the government began to take over medical services, health care was provided to the poor by charity, either that of doctors, nurses, etc. or by churches and voluntary associations. Take a look at the book by Marvin Olasky.

    5. The links above discuss the single-payer problems.

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