A new administration is coming to Washington, promising yet another health care reform. Although the debate over health policy will surely be more unpredictable with President-elect Trump than it has been with most other politicians, that does not mean it will be entirely novel. Indeed, the past half-century of health debate likely provides a good road map for what is coming.
In preparation for Trumpcare, therefore, here are a few economic lessons.
Trump promised more health care choices, lower costs, and universal coverage. Of course, he cannot deliver this package any more than a physician can restore perfect health to a chronically ill patient. Indeed, it will be far easier to make things worse than better.
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David Cutler, PhD David Cutler, PhD, is the Otto Eckstein Professor of Applied Economics in the Department of Economics and holds secondary appointments at the Kennedy School of Government and the School of Public Health at Harvard University...