We don't have a 'free market' in health care

Hunter Lewis  ·  Feb 27, 2018

In a recent article for Fox News my long ago Harvard classmate, Edward K. Glassman, extolls our free-market medical system. The first reader to comment on the article agrees that we have a “free-market” system, but thinks that “profit-based healthcare” should be “outlawed.” Another reader thinks that we actually have “socialized medicine.”

So what do we have? I think the most apt description would be “crony capitalist” medicine, one in which powerful special interests conspire with government officials to create legally mandated monopolies, with the specific goal of thwarting free-market competition.

Here is how it actually works:

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