My favorite article regarding healthcare is posted over at lewrockwell.com today. Hans Herman Hoppe outlines the 4 necessary steps that we must take to solve the healthcare problems we face today. Reading the article really highlights the fact that we have nothing close to a free market system in healthcare. We have a system of inflated pricing and inefficiencies due to government subsidy and over-regulation. Here are the four steps that Hoppe proposes to solve the problem. Of course, these solution are not politically viable but he is right nonetheless.
1. Eliminate all licensing requirements for medical schools, hospitals, pharmacies, and medical doctors and other health care personnel.
2. Eliminate all government restrictions on the production and sale of pharmaceutical products and medical devices. This means no more Food and Drug Administration, which presently hinders innovation and increases costs.
3. Deregulate the health insurance industry. Private enterprise can offer insurance against events over whose outcome the insured possesses no control. One cannot insure oneself against suicide or bankruptcy, for example, because it is in one's own hands to bring these events about.
4. Eliminate all subsidies to the sick or unhealthy. Subsidies create more of whatever is being subsidized.
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