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Politics : Formerly About Advanced Micro Devices
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To: Alighieri who wrote (555523)3/16/2010 6:43:11 PM
From: TimF  Read Replies (1) of 1572095
 
Analysis is always built on assumptions.

And judging from past experience this particular assumption is a very poor one.


When did the GOP become the defenders of Medicare anyway?

I don't know. I'm not really a defender of the program. But if we are going to cut it, it should be cut in other ways than just declaring a reduction in prices with Medicare's power as a monopsony buyer. The effect of price cuts from government monopsony buyers in a certain technical sense isn't a price control, but the effect is pretty much the same. Price controls either allow the market clearing rate as an allowable price (in which case they do almost nothing, except perhaps to discourage investment based on speculation of different market clearing rates in the future), or they force prices up (leading to surpluses), or down (leading to shortages, which in terms of this debate would be fewer doctor choice, longer waiting times etc.)
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