Ken at Chicago Boyz:
I wish I had a dollar for every time someone said that health care was too important to leave up to the free market. That makes about as much sense as saying that passenger airline flights are too important to leave up to Bernoulli's Principle. The alleged importance of health care isn't going to make bureaucratic controls on the supply of doctors work any better than bureaucratic controls on the supply of steel, nor is it going to magically endow Congressmen or bureaucrats with the superhuman intelligence needed to get a better answer than millions of people acting on undistorted price signals would arrive at.
Excellent point by Ken.
A hardcore socialist friend of mine once made the same point that health care was way too important to be left to the capitalist pigs. I asked him if food and water were more important than health care. Hmm, yes, he replied. Then I asked him, why should the private sector be involved in the food industry? Obviously, none of us can live without food. It's more important than health care and education. Yet, the private sector does a good job of providing food to everyone. Why should education and health care be "free", and not food and water? He was stumped.
I told him that even though the various fast food places and their employees couldn't care less if you're starving but do provide you with what you pay for. It's the same logic with private education and health care. The government simply doesn't, and can't possibly, know the number of doctors, medical supplies, and teachers the vast country wants. Yet, it still manages the health care and education industry. That's done in the name of (holy) compassion but it's a recipe for disaster.
I also told him about the distortion of incentives such as subsidizing health care and education artificially increases the demand for both. He kinda understood what I said but still remained a socialist. For those who are in the know about Canadian politics, he was a big supporter of the NDP.