Imagine the compromises when 100 Senators and 435 Representatives bargain to get their piece of the health care allocation in an atmosphere where bitter partisanship rules every issue. In other words what seems to work in Europe is not easily transferable to a radically different political and economic environment. And the complete comparative picture is not as clear as we are led to believe. Maybe we spend more on health care because we want to.
Read More“..we did not think our primary professional task was improving political institutions or helping people who were suffering. Understanding how and why people interacted with one another was difficult enough.”
Read MoreWarren shows no understanding of what profit is. It is the signal that determines the best allocation of resources. The better ideas attract the most capital through the profit incentive. Profit is a byproduct of innovation and ideas. Ms. Warren would substitute this with a government bureaucracy who will determine the proper allocation of resources. The would not only squelch economic growth and innovation, it would increase corruption exponentially as businesses curried political rather than consumer approval. Startups would head overseas.
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