Entrepreneurial Action, Public Policy, and Economic Outcomes

Entrepreneurial Action, Public Policy, and Economic Outcomes

New Thinking in Political Economy series

Edited by Robert F. Salvino Jr., Michael T. Tasto and Gregory M. Randolph

Examining the economics of entrepreneurship from the perspectives of productive versus unproductive entrepreneurial behavior and the role of institutions in economic outcomes, the authors in this book seek to advance the research on institutions by providing a simple framework to analyze the broader, long-term consequences of economic policies. They examine the relationship between economic freedom and economic outcomes and summarize empirical evidence and theory. The book also provides practical policy solutions that are based on the authors' cogent analyses.

Chapter 8: Bureaucracy and business: how healthcare policy guides the invisible hand

Robert F. Salvino Jr.

Subjects: business and management, entrepreneurship, economics and finance, austrian economics, politics and public policy, public policy


This chapter examines the impact of one object of government policy - employer-provided health insurance - on the decisions of individuals within firms, ultimately affecting prosperity's lifeblood - entrepreneurship and innovation. It highlights many of the undesirable outcomes of the public-private marketplace for healthcare in the United States. It is argued that these outcomes are consistent with consequences of greater bureaucratic decision-making in otherwise localized, private decisions, and it is suggested that more desirable outcomes for individuals and society in general would arise from less centralized decision-making and regulatory constraint in the structure of the healthcare market.

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