Tuesday, June 30, 2009

Embrace Rationing--by Price, Not Politics 

By John LaPlante

Filed As:  Health Care

George F. Will on the inevitability of rationing:

As market enthusiasts, conservatives should stop warning that the president's reforms will result in health-care "rationing." Every product, from a jelly doughnut to a jumbo jet, is rationed -- by price or by politics. The conservative's task is to explain why price is preferable. The answer is that prices produce a rational allocation of scarce resources.

And what we have now is an irrational allocation in which most people pay for insurance, though they don't know how much it costs them, to pay for medical services that are billed in indecipherable code produced by the federal government.

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