Murray Rothbard on "Obamacare"Submitted by Marc Clair on Mon, 10/07/2013 - 09:47
Murray Rothbard passed away fifteen years before the passage of the Affordable Care Act, commonly referred to as "Obamacare." Obamacare is a massive intervention in the economy with negative repercussions for many individuals (like yours truly!); however it is just the latest iteration in the cycle of government intervention into the medical industry in the past century. Of course, each intervention causes further problems in the industry and therefore more calls for government to "fix" said problems, leading to yet another intervention.
Murray Rothbard recognized this, and we can extrapolate that he would have similar thoughts on the latest intervention into the medical industry as he laid out in 1995's Making Economic Sense:
No industry provides a more dramatic illustration of this malignant process than medical care. We stand at the seemingly inexorable brink of fully socialized medicine, or what is euphemistically called "national health insurance." Physician and hospital prices are high and are always rising rapidly, far beyond general inflation. As a result, the medically uninsured can scarcely pay at all, so that those who are not certifiable claimants for charity or Medicaid are bereft. Hence, the call for national health insurance.
But why are rates high and increasing rapidly? The answer is the very existence of healthcare insurance, which was established or subsidized or promoted by the government to help ease the previous burden of medical care. Medicare, Blue Cross, etc., are also very peculiar forms of "insurance."
Murray continues to explain the problem with this model of "healthcare insurance" that has been crafted by government interventions and the re-framing of the concept that has accompanied them: