Milton Friedman Interview
MercuryNews.com has a Q&A with Milton Friedman available.
I especically enjoyed this insight of Friedman’s regarding health insurance.
It’s a misnomer really. It isn’t insurance at all. Insurance makes sense when you have a small probability for a large cost and you want to share that probability with others. But it doesn’t make sense for ordinary day-to-day care. What we call medical insurance is not really insurance at all. It’s pre-paid medical care.
Via PrestoPundit.
Posted by
on 11/06 at 07:01 AM
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The author is an ex-submariner, questioner of authority, cigar smoking fly-fishing fanatic who wants to live to be 103
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