I opened a copy of James Henderson’s 2012 Health Economics & Policy textbook today and saw a criticism of 3rd-party insurance payment illustrated by this example on page 7: Spending Somebody Else’s Money A Wall Street Journal article [by James P.…

There are two dictionary definitions of the verb ration in which one person directly affects the consumption of another. to supply something equitably. to control the amount an individual can use. The first definition means to give something for free and It would be odd to object…

There has been a longstanding debate in America between groups that want to expand Medicare and Social Security versus groups that want to cut these enormous federal social programs. Ronald Reagan did both.  In in 1983, Reagan raised taxes to…

Health insurance companies deny claims because they are trying to save themselves the money, but this just increases overall costs because it increases administrative costs for the providers and the patients who have to sort out how to get payments. …

In a well-functioning market, the Law of One Price should hold true.  The law says that the price of a barrel of oil should be approximately the same all around the world plus some adjustment for transportation costs which are…