- New Thinking in Political Economy series
Edited by Robert F. Salvino Jr., Michael T. Tasto and Gregory M. Randolph
Chapter 8: Bureaucracy and business: how healthcare policy guides the invisible hand
AbstractThis 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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