Are They Willfully Ignorant or is it More?
June 30th, 2009 by Sonny
Health care is not a bowl of cherries – Paul Krugman Blog – NYTimes.com.
Krugman notes that Kenneth Arrow pointed out 45 years ago that competitive markets don’t work in health insurance market. I read and quoted Arrow in a paper I wrote years ago while studying health policy and economics in college. How is it that otherwise bright people don’t seem to able to grasp long established standard works in economics? Mankiw really, really should know better. I suspect he does, which makes it infinitely worse.
