Why Hayek Would Endorse Obama’s Government Health Insurance Plan

Brad DeLong explains:

The economic logic behind a public [health insurance] plan springs from these information and selection problems.  Private health-insurance companies are currently spending a fortune in a negative-sum game by which they try to make other private companies and not themselves actually pay for treating sick people. A public plan run by bureaucrats . . . → Read More: Why Hayek Would Endorse Obama’s Government Health Insurance Plan

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It is [not] instinct nor reason but learned traditional rules of conduct which mainly guides our lives. — F. A. Hayek

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