Single Payer is Doomed Before It Starts

Donald Trump tweeted that Britain's National Health Service is "broke and not working." All too true: expenses have forced 40% of walk-in health centers to close, all elective surgery in January to be cancelled, and primary care has been decimated, it's not surprising that problems have surfaced. It is just as predictable that the usual call for "more money" echoes around the UK. All this is the result of economic laws that have been completely ignored since the days of Aneurin Bevan, the father of the UK NHS. The first is the Law of Rationing. In short, "Everything is rationed, either by price or by rule." I can't afford a private jet. Price rationing limits those to people of substantial wealth, and their high price acts as a signal in the market to balance the supply of private jets with the market of willing buyers. But suppose that the government declared that private jets were free. Everyone would want one. Suddenly there would be...(Read Full Article)