Medicare reform has been stalled not simply because of political maneuvering but also because too few economists have been willing to apply market principles to health-care issues. Economists need to stress that market competition in health care, as in other markets, would improve quality and allocate scarce resources to higher-valued uses, and that price controls are destructive of these desirable ends.

Robert B. Helms is Resident Scholar and Director of Health Policy Studies, American Enterprise Institute.
Economic PolicyEconomyEntitlements and WelfareFDA and Drug RegulationFree Market EconomicsGovernment and PoliticsHealth and HealthcareMedicare and MedicaidMedicare, Medicaid, and ObamacarePublic Choice