Saturday, November 9, 2013

A Truism

From The End Is Near And It’s Going To Be Awesome, by Kevin D. Williamson. Broadside Books, 2013.

We spend a ton of money on Medicare and Medicaid because medical prices are so high. And medical prices are so high because we spend so much money on Medicare and Medicaid. Subsidizing consumption of a good while paying no attention to its production leads either to higher prices or some other kind of economic distortion.

I love it when someone states a proposition so succinctly.

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