Just What Price?*
Posted by Jonathan on November 14th, 2003 (All posts by Jonathan)
Thomas Sowell writes:
Politicians who claim to be able to “bring down the cost of health care” are talking about bringing down the prices charged. But prices are not costs. Prices are what pay for costs.
(via Samizdata)
*The economist Frank Knight is reputed to have quipped: “A just price — just what price?”
November 15th, 2003 at 11:00 pm
And as P.J. O’Rourke has famously put it, “If you think health care is expensive now, wait until you see what it costs when it’s free.”