Milton Friedman Responds to ObamACAre ... in 1978
"I’m going to talk today about the economics of medical care. This in an area, in which we all know there has been a trend toward ever-greater government involvement. One step in this area inevitably leads to another. We have had an expansion of government involvement in the spending of money – Medicare, Medicaid funds, expenditures by the Department of Health, Education and Welfare for other medical purposes have been growing by leaps and bounds. They have gone from a very tiny portion of the total national expenditures on medical care to a substantial portion. If this trend continues, it inevitably leads to completely socialized medicine. I believe that this trend is very much against the interest of patients, physicians, and other health care personnel. And in the brief time I have to today, I want to explain why I believe the trend is so much against their interest, why it has occurred, and what, if anything can be done about it."
Six videos ensue. Great stuff. Via CARPE DIEM: Milton Friedman's Response to Obamacare? The "Economics of Medical Care" from 1978 at Mayo.