Carlos Acosta | Johns Hopkins University (original) (raw)

Carlos Acosta

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Research paper thumbnail of PRINTED FROM OXFORD SCHOLARSHIP ONLINE of a single chapter of a monograph in OSO for personal use. Mother of Invention: How the Government Created "Free-Market" Health Care What's Private About the Free Market

and Keywords The term "free-market" is widely used to connote private commerce that is free of go... more and Keywords The term "free-market" is widely used to connote private commerce that is free of government intervention, yet in reality, such markets do not exist. Almost every major industry depends on some form of government support. Four examples in the general economy are information technology, which relies on the Internet; automobile manufacturing, which relies on Interstate highways; telecommunications, which relies on satellites; and homebuilding, which relies on federal mortgage support. Even the most ardent supporters of markets dating back to Adam Smith acknowledge thegovernment's key role in maintaining them.Public programs do not always produce optimal results, and they are often captured by the industries they are intended to support and oversee. However, without them,few, if any, private industries could exist.In no sector of the economy does this dynamic play out more pervasively than in health care.

Research paper thumbnail of PRINTED FROM OXFORD SCHOLARSHIP ONLINE of a single chapter of a monograph in OSO for personal use. Mother of Invention: How the Government Created "Free-Market" Health Care What's Private About the Free Market

and Keywords The term "free-market" is widely used to connote private commerce that is free of go... more and Keywords The term "free-market" is widely used to connote private commerce that is free of government intervention, yet in reality, such markets do not exist. Almost every major industry depends on some form of government support. Four examples in the general economy are information technology, which relies on the Internet; automobile manufacturing, which relies on Interstate highways; telecommunications, which relies on satellites; and homebuilding, which relies on federal mortgage support. Even the most ardent supporters of markets dating back to Adam Smith acknowledge thegovernment's key role in maintaining them.Public programs do not always produce optimal results, and they are often captured by the industries they are intended to support and oversee. However, without them,few, if any, private industries could exist.In no sector of the economy does this dynamic play out more pervasively than in health care.

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