Milton Friedman Speaks: The Economics of Medical Care (B1234) - Full Video
Why Hacker News recommends it
HN commenters recommend it for Friedman's argument that regulation and lobbying produce a less efficient, centrally planned healthcare system.
What it is
Milton Friedman lectures to physicians on the economics of medical care, arguing that government involvement raises costs and leads toward socialized medicine. He also discusses licensing and protecting patients from quacks.
Recommended by 2 HN commenters across 2 different months, 2019 to 2022.
What Hacker News said
Recommends chimi · 2019-09 · on “‘Out here, it’s just me’: one doctor for 11,000 square miles”
[LINK] I also like this 45 minute lecture Milton Friedman gave to physicians telling them how they were making healthcare worse due to this type of lobbying by their representatives. [this video]
Recommends snagglegaggle · 2019-10 · on “When Medical Debt Collectors Decide Who Gets Arrested”
Careful, "for-profit" healthcare has a lot of government controls on it. Single payer is only obvious after you add a lot of controls to the market. See [LINK] and the more complete [this video] . He explains how regulation eventually results in a centrally planned setup that is less efficient than what used to happen.
Cites 3D25157725 · 2022-12 · on “The Moratorium on US Medical School Enrollment from 1980 to 2005 (2008)”
For any interested, here[1] is the late Milton Friedman's take on how we might protect against quacks, frauds, and snake-oil salesmen posing as doctors if government didn't step in to limit the supply of medical doctors in the name of quality control. I realize it's not exactly what the article is discussing, but it's certainly relevant for all the same reasons. This is during the Q&A of his lecture "The Economics of Medical Care", given to the very people who would most object to his ideas: [1] [this video]