Re: Health Care
In general you have the following trade offs:
1) Government run healthcare distributes more equally but is generally of poorer overall quality.
2) Health care and medicine is an industry where things you do now effect things in the future, but you can't see the effect till you get there. Case in point, patents restrict medicine now but provide incentive to develope new medicine for the future.
3) Most of health care economics is about incentives. People will do rediculous things if you place them in a certain incentive scheme.
4) In my experience one of the areas where government can actually add +EV is in catastrophic case coverage. They are in a better posistion to handle the risk involved and thus have to devote less resources to administration and management of that risk the private companies.
5) The FDA sucks hard. I don't even know why we have it. Read one of natedogs posts on the subjects.
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