Liberty Pen: Milton Friedman- 'Socialized Medicine (1978)'

Source:Liberty Pen- Professor Milton Friedman, talking about socialized medicine in 1978.

"Nobel Laureate Economist Milton Friedman explores the unsettling dynamics set into motion when government imposes itself into the health care system.  (1978)

Source: Milton Friedman Speaks

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From Liberty Pen

I have a lot of respect for Milton Friedman, (in case it hasn't been obvious enough) but if you've been reading my pieces lately, it should be as obvious as water is wet, fire is hot, rocks are hard, etc (go down the line if you wish) I don't agree with him on everything. But he's pretty much has it on the mark when it comes to socialized medicine. 

I think our disagreements would be as far as Medicare and Medicaid, both government-run health insurance programs, clearly. He was for eliminating them, I would be for giving them autonomy not privatization, as well as competition for its patients. And we disagree on what should be the alternatives to socialized medicine. 

Professor Friedman would be for completely leaving it up to market forces. Including no regulation of private health insurance companies. Where I believe in unlimited free and fair competition, leaving it up to the people to decide where they get their health insurance and health care, similar to France and Germany.

As well as I'm in favor of Patients Bill of Rights, something Professor Friedman wouldn't be in favor of. I don't believe in over regulation or under regulation when it comes to the health insurance industry, or any other private industry. But I believe in what I guess I would call well-regulation when it comes to the economy. 

France and Germany two essentially social democracies that don't have single payer health insurance systems, incidentally. But both countries have a combination of private and public health care systems. So Professor Friedman as any Classical Libertarian would believe, believed that government especially the Federal Government should not have anything to do with the economy, regulating it or anything else. 

Where myself as a Liberal (or Classical Liberal, if you prefer) believes that government does have a role in the economy, but a limited role. That leaves the people in charged of where they go in life with unlimited free and fair competition, where the market decides which company's succeed or fail. But an economy that's well-regulated and supports people who need help to get themselves on their feet and the health care industry would be an example of this. 

So Professor Friedman and I agree that socialized medicine when it comes to government completely running health care in the country. Take Britain as an example. But even they have moved to allow private health insurance companies and private hospitals. We agree that complete government control over the health care system and any other industry in this huge country, would be a disaster. But we disagree as far as what the alternatives should be. 

I guess I would be in the middle of Social Democrats/Democratic Socialists, who believe that government should be completely involved in running basic human services. Things that would be called basic social welfare. Like insurances in the economy like health care and health insurance, education would be another example. And Ayn Rand Radians, who believe that government shouldn't be involved in the economy at all.