How medicare sets hospital prices

The great Uwe Reinhardt presents a useful primer to the discussion of health care reform that should interest OPers (mindful as they are of the importance of primary social goods).  I supervised a remarkably thoughtful (and empirically informed) thesis on Health Care Justice last semester, which brought into sharp relief the ridiculousness of the public discourse on health care reform.  Essays like this one could prove useful.

As a side note, the economic philosopher in me can’t help but cringe at the notion of market efficiency that a couple commenters simply assume without hesitation. Reinhardt’s response (comment 25) is remarkably succinct and understated.

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