As political scams go, it's hard to top Social Security. It has imposed a prosperity-crushing tax bite on everyone, promoted financial irresponsibility in the middle class, and torn apart the generations. It has lessened the respect any civilized society should have for its elders, even turning some of them into greedy lobbyists. And it has expanded government's reach beyond what any free society should tolerate. The program doesn't even provide security.
It's true that the U.S. health care system is a mess, but this demonstrates not market but government failure. To cure the problem requires not different or more government regulations and bureaucracies, as self-serving politicians want us to believe, but the elimination of all existing government controls.
Government control takes freedom of choice away from the public and puts it in the hands of bureaucrats responsive only to their own interests and those of the state, instead of the buying public. Private enterprise in medical care means patient sovereignty. The Soviets ignored this principle, and the public is now paying for it with their health and lives.
Mises University is the world’s leading instructional program in the Austrian school of economics.
Mises University is the world’s leading instructional program in the Austrian school of economics.
Mises University is the world’s leading instructional program in the Austrian school of economics.
