Centralized Health Care Just Works Better

Paul Krugman

Photo: NYtimes.com

Some readers ask why my argument that relatively centralized systems work better for health care than the “free market” isn’t an argument for government ownership of everything.The answer is that health care is different: it’s a sector in which basically every market failure you can think of takes place. And we’ve known that since Kenneth Arrow’s classic analysis half a century ago.

Read the rest of this article at the New York Times.

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