Why the free market cannot provide healthcare

In one short blog post, Paul Krugman says pretty much all there is to say about the idea espoused by some that we should leave health care to the market.

The short version: health care is characterized by 1) unpredictable demand, and 2) severely incomplete information.  The two eliminate any possibility of a rational market response.

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About Jake Wobig

I teach international relations and comparative politics at Wingate University in Wingate, North Carolina
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One Response to Why the free market cannot provide healthcare

  1. jakewobig says:

    I should note that Marginal Revolution has several posts disputing Krugman, the first of which can be found here: http://www.marginalrevolution.com/marginalrevolution/2009/07/examples-of-free-market-health-care.html

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