Virtually everyone in health policy has come to believe three things about the US health care system, and all three things are wrong:

  1. The US health care system is the most costly in the world; it costs twice as much, for example, as the developed country average.

  2. The reason our health care costs so much more is because our prices are higher.

  3. We could significantly reduce the cost of care by imposing government administered price controls.

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