Milton Friedman Tackles Health Care

Kevin Glass | June 20, 2009 11:34 PM

In this 2001 Hoover Digest piece, Milton Friedman provides insight into some of the causes of the United States' current health care situation and a primer on ways that it can be reformed. (Hint: it doesn't involve more government!)

The high cost and inequitable character of our medical care system are the direct result of our steady movement toward reliance on third-party payment. A cure requires reversing course, reprivatizing medical care by eliminating most third-party payment, and restoring the role of insurance to providing protection against major medical catastrophes.

The demonstrated efficiency of private enterprise would have a chance to improve the quality and lower the cost of medical care. The first question asked of a patient entering a hospital might once again become "What’s wrong?" not "What’s your insurance?"

H/t: Peter Robinson (via my favorite economist )