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Archive for December 8th, 2010

The title of this post may be a slight exaggeration. I actually recommend you read the entire two-page paper by Devon Herrick of the National Center for Policy Analysis. But this chart from that study is an excellent visual display of what’s wrong with the health care system.

You can see that the price of medical care is rising twice as fast as inflation, but you can also see that prices for cosmetic services are rising only half as fast as the general price level. Why are general health care prices soaring, yet prices in one segment of the health care world are very stable (and actually falling relative to all other prices)? The answer is simple. As Devon writes:

A primary reason why health care costs are soaring is that most of the time when people enter the medical marketplace, they are spending someone else’s money. When patients pay their own medical bills, they are conservative consumers. Economic studies and common sense confirm that people are less likely to be prudent, careful shoppers if someone else is picking up the tab. Thus, the increase in spending has occurred because third parties – employers, insurance companies or government – pay almost all the bills.

Study this image for two minutes and contemplate the implications. After that, you’ll know more about healthcare economics than 98 percent of all politicians (though that’s not exactly a huge accomplishment).

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If you’re at your computer and want some entertainment with your lunch, watch me debate Robert Kuttner at http://abcnews.go.com/nightline¬†beginning at 12:30 EDT.

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I’ve already posted about the nut who claimed that global warming was causing AIDS, so I guess I shouldn’t be too surprised that a writer for the New Republic says global warming may lead to genocide.

But that may not be the silliest thing said by a left winger in the past couple of days. Hugo Chavez is blaming capitalism for heavy rains that have caused flooding in Venezuela.

So which statement is more laughable? After careful consideration, I give the excessive hyperbole prize to Timothy Snyder, the author of the New Republic article.

Yes, I despise the Venezuelan dictator, but I can understand why a thug politician would want to deflect blame for his personal incompetence and his¬† government’s inability to deal with bad weather. Heck, even non-thug politicians look for scapegoats when their policies are failing.

Snyder, by contrast, is much more on the cutting edge of left-wing absurdity. Congrats to Tim!

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