Obamacare, the colloquial name for the Affordable Care Act, illustrates what Robert Bork called the political temptation of the law and Peter Bauer described as price less economics.
Not seen a competitively priced a/s insurance contract for older citizens since Social Security was amended in 1965 to create our version of national health insurance, Medicare and Medicaid. Not seen a competitively priced medical education since 1910 when AMA convinced state legislators to let them determine qualifications to run a medical school.
The heart of any contract is its price produced by competition arising from man’s natural tendency to trade, barter and truck. Common stock’s potential for appreciation drives the entrepreneur. This incentive is lacking when discussing hospitals, medical schools and colleges.
A properly priced Medicare contract means residents of South Dakota and North Dakota would pay less than persons living in New York City and San Francisco. Location, location, location. Doing this violates our rabid one-man-one-vote egalitarianism. We forget we vote every day with our dollars.