I came across this article that was concerning the new healthcare bill/debate. Warren Buffett said that "out of control health care costs are like a tapeworm limiting growth in an economy trying to recover from a financial crisis". Health care eats up 17% of the gross domestic product at a time when other countries are at nine or 10% gross domestic product and they have more nurses and doctors and hospitals per capita.
Buffett would rather have the Senate bill on health care than the current bill. He would also want to see a bill that would really attack the costs of health care. Rising costs are holding the economy back.
This article caught my attention because we mentioned health care in class. Friedman is all about having a free market economy. The government shouldn't have that big of a role in a lot of issues such as health care. For Friedman, health care should be privatized. The market/economy should be able to work itself out, and that goes for health care. Government should be an umpire and only enforce the rules. This would rule out coercion. If I read this right, Obama wanted a health care bill that would have a public option that would compete against private health insurance. Friedman would definitely be against this, I believe.
Buffett: Health care "tapeworm" drags on economy
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Even though you are right about how Friedman would feel about it, he is basically wrong about how economics works with real people. True he would say that the government should keep its hands out of nearly anything besides National Security. He believes in an economy designed to run countries into the ground. His so called freedom is only applicable to those with money. Since those with money have the freedom to buy whatever the hell they want, that makes the poor sans freedom. Even though this healthcare bill would give aid to those in need, Friedman would argue that this economy would eventually even out if we had the proper government, and then we all would have enough money to live and be free. Pshyeah... sure Friedman... Whatever you say.
ReplyDeletebut yeah you are right in the fact that he would hate this health care bill
I believe that Friedman would be totally against the governments hand in healthcare issues; however Friedman does believe the role of government to be that of an umpire especially when it comes to the issues that affect everyone in society. Personally, I feel that healthcare is one of the major issues amongst American citizens because many Americans are uninsured or underinsured. And the reason for this is do to costly healthcare. Therefore, the government is needed to bring order to the failing healthcare system.
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