Friday, June 26, 2009
which is worse? cap and tax or socialized medicine?
June 25, 2009 Posted by John at 8:41 PM | Powerline
And the answer is . . . SOCIALIZED MEDICINE.
[I]n fact, having the public "option" crowd out private insurance will result in a monopsony not a monopoly....i.e., one buyer rather than one seller.
This is, of course, the whole point of the plan... constructively, a single payer system which is, by definition, a monopsony which will exercise monopsony purchasing power....in effect confiscating as much of the incomes of providers as it can get away with...and managing the resulting supply shortage by its complementary monopoly position as a seller (or provider) of insurance to the public....only one place to go on either side of the trade....nice work if you can get it.
read the whole thing