Sunday, October 09, 2011

Hsieh TU OpEd: Don't Blame Capitalism For High Health Insurance Costs

By Paul Hsieh

On 10/4/2011, The Undercurrent published my latest OpEd, "Don't Blame Capitalism for High Health Insurance Costs".

My theme is that rising health insurance costs are due to statism, not the free market. Here is the opening:

Suppose Congress passed a law requiring that all restaurant meals include broccoli and okra, whether the customer wanted them or not. Restaurants must also charge the same price for all meals, regardless of whether the customer ordered a small salad or a large steak. And they must serve free meals to children up to age 26 whenever their parents purchased a meal.

As meal prices rose, most Americans would understand that this was caused by the government regulations, not the free market. Today, similar laws are driving up the price of health insurance -- and it's equally important not to unfairly blame capitalism for the problems caused by the government.
(Read the full text of "Don't Blame Capitalism for High Health Insurance Costs".)

I'm glad The Undercurrent published this to coincide with their Capitalism Awareness Week project. You can still watch some of their earlier lectures and debates held this past week at college campuses across the country.

Many thanks to Noah Stahl and Ben Bayer for their helpful editorial suggestions. For more on The Undercurrent, check out their website.

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