On Blogging Heads with Matt Yglesias and I think I know how to share it now. Nope, the video shows up in my preview but as a link on the actual site.


We do a long ramble moving from Osama to the Fed to Health Care.

I get the feeling that the discussion on health care is not easily absorbed. Either I am mistaken or blogging heads commenters missed the point.

The core case is this:

Look free market medicine might be a great idea, but there is no precedent for it happening. The real choice is between an stingy government run sector that actually spends less money on health care or a less stingy government subsidized sector that spends more money on health care.

Further, in any case there is nothing akin to consumer soverignty in Medicine because first drugs have to be approved by the FDA, or else its illegal to prescribe them. Then you have to convince a licensed physician to prescribe them or else its illegal to buy them.

And, remember the part of medicine that does most of the curing is the actual medicine part, which is the most fiercely regulated.

A true free market in medicine would let people create whatever drugs they wanted, however they wanted and would let consumers buy whatever drugs they wanted however they wanted. If someone chose to get the advice or consul of a physician then fine, but there would be no law making them do so.

Given that this is not likely to happen any time soon our real choice is between bloated medicine and austerity. Since in practice Socialized Medicine is austere medicine, I wonder if this could actually get Bryan Caplan on board for fully socialized health care.