Tagged: medicare

The Great Society at 50.

Fifty years ago today, President Lyndon Johnson gave a speech at the University of Michigan in which he first proposed what he called the “Great Society.” So what of the Great Society on its 50th birthday? Sadly, there’s little to celebrate.

Waiting for “free” health care.

Assuming that the purpose of a health care industry is to prolong and improve human life, legislating away money as the economic mechanism for clearing the market and substituting in its place time is the worst possible allocation of resources.