Krugman On Health Care

I David L. Prychitko I

government involvement is the only reason our system works at all.

Read it all here.

Comments

[Lee Kelly]

Do I have to read it?

I could be reading "Human Action" instead.

[Austin]

"But unregulated markets don’t work for health care — never have, never will."

-Krugman

First of all, we're talking about health insurance, not health care. The market for health care has existed since the beginning of the division of labor. Enter the medicine man, and this was before health insurance.

And if unregulated markets for health insurance have never worked, this would imply that a government created such a market. In this country, that is false.

And why do health insurance markets so dismally underperform, whereas other insured activities succeed? What makes human health special?

[Greg Ransom]

Has any economist had the courage to tell the truth about this man?

Barkley Rosser. Anyone else?

The man is a disgrace to your profession and all of academia.

And no one says a peep.

What is the public choice economics behind that?

[Roger Koppl]

Okay, Greg, what have *you* published on Krugman's sins?

[Greg Ransom]

Over the years I've called krugman on his Bs many times.

I believe I was the first to point out Krugman's laughably bogus account of Hayek's macroeconomics, and I've called attention again and again to Krugman's self confessed ignorance of the "prose" economic literature, i.e. just about any econ predating his own graduate education.

And I've repeatedly linked to anyone writing on Krugman's abuse of economics or the facts.

But I'm not an economist. Krugman is doin damage to your profession and your science, most mine.

[Greg Ransom]

Make that "not mine".

iPod typing has its weak points.

[Jim Davis]

Ditto Greg.

I am not an economist by education (like Keynes) nor by profession. However, as the VP & Chief Procurement Officer for a multi-billion gross revenue corporation, I apply Austrian School econ in my job on a daily basis; I believe it has been a key contributor to my "success."

I was required to take econ at both the undergrad & graduate levels to complete my degrees. Unfortunately for me, every one of these courses was taught by a Dr. Bubble Paul Krugman type character who seemingly seized every opportunity to rail against the purported evils of capitalism.

At the undergrad level I was even asked by one of these characters to consider teaching Keynesian econ as a profession because he felt I understood it and could explain it so well to others. And he was floored when I told him that I would not do so, for moral reasons: I could not teach something I knew to be untrue. Our relationship never recovered. I was bummed at the time but now I find the incident very amusing.

Anyway, like you, I continuously point out the fallacies, distortions, obfuscations, and lies spewing from Dr. Bubble, mostly on the WSJ boards and sometimes on Krugman's NYT blog. He is an absolute disgrace & it is troubling that he receives so much media time.

Keep up the good work, Greg!

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The market for health care has existed since the beginning of the division of labor
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