"Basically an Optimist' - Still

3/27/10. Nobel economist Gary Becker predicts that the American people can be trusted to vote for limited government in November.

Professor Becker says:

"Here in the United States, we spend about 17% of our GDP on health care, but out-of-pocket expenses make up only about 12% of total health-care spending. In Switzerland, where they spend only 11% of GDP on health care, their out-of-pocket expenses equal about 31% of total spending. The difference between 12% and 31% is huge. Once people begin spending substantial sums from their own pockets, they become willing to shop around. Ordinary market incentives begin to operate. A good bill would have encouraged that."

http://online.wsj.com/article/SB10001424052748704094104575144011906222520.html