Milton Friedman – Health Care in a Free Market

Milton Friedman – Health Care in a Free Market

Milton Friedman fields questions from medical professionals at the Mayo Clinic regarding his advocacy of a free market in health care. http://www.LibertyPen.com.

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Keith Tatro says:

Hey Michael.
Milton Friedman is on your side. But you’re not!

Dogboy1960 says:

Let me guess…….Obama supporter?…..or is even he too far to the Right for you? My GOD how how did the public school system and life in general fail you so completely? You have my sympathy! 🙁

Michael Cores says:

SO… How many herem, thinks that the woman who was talking to him, and ended up saying: “Exactly… GOOD ANSWER!” like a complete SLUT… How many here, thinks she may have have been planted?

Michael Cores says:

This only goes to confirm: Milton Friedman was the root of all evil. And some FUCKTARDS listened to him.. .gave him power… and If they had NOt… The world would have been in a better situation. Admit this shit: The world would have been better off. He fucking -Ruined- everything that ever remotely worked in the “free Market”. Thanks to him, we now have a second recessionm, and USA has NEVER been as divided in terms of poverty and richness… EXCESSIVE richness!

James Carlyle says:

Don’t you see his point? The airline companies have incentives to make sure the pilots are good because if they have lousy pilots – then their business suffers. The license arguments are more nuanced than that.

cinemo says:

I agree (and the government would agree!) that they should not be obligated to subsidize pilot training. Technically, they don’t. But since most commercial pilots are trained in the military, in effect, they subsidize safer and more affordable air travel.
More and more pilots are graduating from civilian air schools, fortunately getting a pilot license is well regulated.
Friedman believes pilots should not need a license ! I’m glad I’ll never have to take a plane to his fantasy island.

Thomas Jefferson says:

And Bill Maher’s answer to that is “oh, a nun will put leeches on your forehead.”
You can’t reason with idiot-liberals, all their brains are in their imagination.

Thomas Jefferson says:

But that’s INEVITABLE when the government is the judge of its own powers.
You can vote for Jesus or Satan, it won’t fucking matter.

That’s the one wild goose that the Libertopians just won’t stop chasing with their 10th Amendment wishes and Ron Paul dreams, to bother reading what I told them in the Kentucky Resolutions over 200 years ago.

James Carlyle says:

Always be wary of government involvement. Its useful, but we must be aware of unintended consequences always. Should the government be subsidizing the number of pilots and doctors? Doctors maybe, but why pilots? Thats like saying, should we subsidize the number of accountants, lawyers, engineers, cashiers, etc. Which do we subsidize? The answer has to first be researched as to why the private sector does not arrive at the socially optimal equilibrium.

cinemo says:

The education of doctors and pilots is subsidized in the US, as it should be. Unfortunately, the supply of doctors is restricted by the AMA for to keep the price of their services high. If the US had the as many doctors per capita as for instance , Cuba, then I am sure a free market would provide better and much cheaper health services than what we have now.
In summary, a free market is best for determining valuations but government is best at providing infrastructure.

TheInfernal36 says:

The arguments friedman makes are subtle. Take for example doctors. The regulation has set the standards such that becoming a doctor is extremely difficult. So only the best and brightest can actually become doctors. good right? except that creates a shortage of supply and drives up the price. Imagine similar stuff being used for pilots. We’d end up with 10 awesome pilots but a lot of people stranded because there aren’t enough pilots to fly everyone. Strict standards doesn’t always mean better.

Dillon Thompson says:

Dude no he’s not. Friedman is very humble. He is not full of himself.. c’mon.

tpstrat14 says:

lol

Misanthr0picNihilist says:

Thanks for sharing those deep thoughts.

tpstrat14 says:

Milton Friedman irritates me to no end in a way that I can’t quite understand. He’ just so goddam full of himself for one.

Sergey Kazantsev says:

Liberals create the “poor” and they hold on to each other ( poor for libs and libs for poor)election after election, until economy will be destroyed completely and the country will fall apart like USSR.

nustada says:

I was simplifying, most likely it would be a network. Sort of like how AAA works, or how many banks work together so even though they compete they work together for the purpose of customer service so you may be able to use a bank you are not a member of for a nominal fee and often no fee at all. Also as I stated without state mandates barring specialization, there probably would be small clinics dotting the country that specialize in stabilization.

Greaseball01 says:

Well if the hospital you chose in advance is a forty minute drive away and you’re choking on a constant stream of your own blood I dare say the paramedics are going to decide they don’t have time for the forty minute drive and they’ll take you to the hospital that’s ten minutes away instead, on account of that being the sensible thing to do.

nustada says:

The problem you describe is only a problem from a statist paradigm. In a free market, you would choose in advance which dispatcher, or arrange in advance which hospital you use.

Also without government “regulation” there would and could be inexpensive clinics that specialize in stabalisation.

At the moment most of your bill goes to feeding government “regulators” and compliance, government “regulations” prevent specialization which eliminates competition and market growth to meet demand.

nustada says:

Hospitals have a bad bottom line because of the following. Government meddling in limiting supply in licensing, mandates on professional training, FDA compliance, medical facility regulations. Those Gov. requirements also prevent specialization causing over-complications in billing leading to waste and error. Government also causes excess demand via dangerous public roads, “free” Medicare and Medicade, subsidizing bad food EG corn syrup, and inculcating children to a culture of violence.

nustada says:

Emergencies are externalizes. Internalizing externalities is what insurance is for. If a hospital was not willing to negotiate in advance with insurance companies, it would loose business to those that do.

In a free market an emergency room would not do what you describe. For the same reason if you order a filet minion for $20 at a restaurant, they don’t deliver you a chuck roast and charge you $100000.

snagillim says:

of the “other forces” i mentioned one is price inelasticity in healthcare which exists because people in emergency situations often don’t have the option to shop around, which is why an aspirin in the emergency room costs roughly 12 bajillion dollars. There’s plenty of scholarship on why the free market doesn’t function well to lower prices in healthcare markets.

nustada says:

In a free market, I would imagine the following. I would think schools would open to train “medical technicians”. They would learn maybe one operation well and receive certification for said procedure. The low cost of training more people would compete for the business of doing that operation. Insurance would probably require that enough better trained general surgeons are on site in a clinic to assist with occasional complications. People would probably only use insured and certified techs.

nustada says:

What is the limiting factor in the creation of competition in the medical industry? I would say, licenses and general education requirements to do business.

CyGrGuy says:

Competition.

nustada says:

What stops grocery stores for charging unlimited amount of money for food?

nustada says:

How much do you know about how computers really work? Does you relative ignorance mean government should make and sell computers? How do you know you even bought a computer and not a toaster?

You would know because there would be peercustomer review literature, insurance companies would make it cost prohibitive to do bad practice, there would be third party certifications along the lines of underwriter laboratories. All these things exist and work better than when government is involved.

DebsForPresident says:

It’s just ignorance to compare the two. Governmental debt and personal debt (credit cards) aren’t comparable, they’re nowhere close to the same thing.
Debt WON’T keep increasing, as the dollar strengthens the debt has fallen DRASTICALLY in recent months without bringing in a DIME more or spending any less. Just as REAL economists not in the pocket of the far right have said all along. This was a phony “crisis” from the beginning meant to spur auserity, the WORST thing our nation could do.

Greaseball01 says:

Well the more in debt the government is the less economically powerful they are because they essentially have no money, and as the debt gets higher they become more incapable of paying back the banks and other bodies that they borrowed the money off of and so the banks go out of business so the government can’t borrow anymore money from them which they need because they have no money of their own because they’re in debt and eventually all the money in circulation becomes worthless.

Greaseball01 says:

The issue I come back to with privatised healthcare is the issue of what occurs in an emergency. When you have an accident and the ambulance comes and takes you in with the sirens blazing rushing through traffic, they can’t stop and ask you which hospital you feel as a consumer will provide you the best service because your bleeding profusely from your face, they’ll just take you to the nearest hospital, thus the idea that hospitals can work like a department store is ludicrous.

mba2ceo says:

Tell me why … how does debt undermine GOVT ?

HaloMortal says:

No what he said was pretty basic. The government is in debt and they are acting like a credit card holder that just won’t stop spending. What I mean by that is that everything they do increases the debt level and eventually what will happen is the collapse of the meaning of what government money actually is. If debt keeps increasing at it’s current rate there will make no mistake be either a dictatorship arising or complete governmental collapse

Unit01232 says:

I heard in Hong Kong they got affordable healthcare through free market capitalism. John Stossel a few years ago on his show said it’s one of the most economically free cities in the world.

Charles Hammond Jr says:

Every problem that’s been caused in the health care market has been caused by Government. Obama care was a ‘fix’ for HMO’s… which was created by Ted Kennedy as a ‘fix’ for the previous problem… and so on.

Friedman was right: govenrment has NO place in the healthcare whatsoever. If you study the history of government’s involvement in such you’ll see the pattern of every government ‘fix’ causing a wave of problems.

Phillyfan320 says:

You’d be hard-pressed to find the mainstream media talking about free markets or the Constitution.

Your comments are a testament to your own ignorance. Do yourself a favor and stop commenting; you’re just embarrassing yourself.

mba2ceo says:

Well we disagree. Either U stupid or vile. Probably a product of the Media. Just my opinion.

Phillyfan320 says:

First of all, there would still be a system, it would just be privatized.

Second, A government doesn’t actually produce anything on it’s own; it has to steal money from the people of the country to actually offer a good or service. Socialism in and of itself is immoral, unconstitutional, and the greatest way to undermine individual liberty.

A corrupt system is the worst thing you could have.

mba2ceo says:

a corrupt system is still better than NO system at all.

Phillyfan320 says:

That statement is a fallacy from beginning to end. Listen to Ron Paul speak about his time as a doctor and you’ll see that the free market healthcare system we had never turned people away and the quality of the care was second to none.

Look at the state of Medicare and Medicaid right now. You want a government that has bankrupted both of these programs and is currently $16 trillion in debt to socialize healthcare even more?

mba2ceo says:

Health Care in a Free Market = poor die and suffer due to lack of care. GOD DAMN ALL BLOODSUCKERS.

Wolfe B says:

damn that lady doctor probably licked Friedmans large penis after

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