Monday, July 23, 2007
BLOGSCAN - Why Do People Trust Medicare?
On Marginal Revolution (an increasingly influential libertarian economics blog), this post on whether or not people in the US trust our Medicare program. Blogger Tyler Cowen suggests that "people like Medicare because it pays some of the bill, while keeping interference in the medical process to an apparent minimum; admittedly non-interference is in part illusory because the indirect effects of Medicare (e.g., it drives up prices) have become enormous." One wonders if people knew more about the obscure process Medicare uses to adjust reimbursement to physicians (see our posts here and here), whether they would trust Medicare less.