Crisis of Abundance: Rethinking How We Pay for Health Care
Arnold Kling
In Crisis of Abundance: Rethinking How We Pay for Health Care, economist Arnold Kling argues that the way we finance health care matches neither the needs of patients nor the way medicine is practiced. The availability of premium medicine, combined with patients who are insulated from costs, means Americans are not getting maximum value per dollar spent. Using basic economic concepts, Kling demonstrates that a greater reliance on private saving and market innovation would eliminate waste, contain health care costs and improve the quality of care. Kling proposes gradually shifting responsibility for health care for the elderly away from taxpayers and back to the individual. The idea of matching the health care funding system to needs is very simple, Kling writes. The very poor and the very sick need help paying for health care. The rest of us do not.
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What are Economics blogs saying about this book?
- EconLog 13 Jul 10:
... Cooperation with the right on free-market causes would need to be supplemented by an equivalent level of cooperation with the left on personal freedom, civil liberties, and foreign policy issues. . . libertarians should be making the point that their differences with the right are every bit as important as their differences with the left. Some of my own thoughts. 1. It was Brink who commissioned me to do a book on health care for Cato, Crisis of Abundance. Intellectually, I consider it a triumph. I think it makes a lasting contribution to the health care debate. Published in April of 2006, I thought it would have a relevant shelf life of a decade, and I stand by that. Cato's permanent on-staff scholars continue to do yeoman work on health care policy, as exemplified by Michael Tanner's comprehensive analysis (self-recommending) of this year's bill. ...
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