'Cost Disease Socialism' and the Crisis of Our Time

A useful new idea has just been offered to the world that captures the actual crisis of our current welfare state, helps explain many of the reasons for widespread discontent in a land of plenty, and also throws into sharp relief the failure of policies from both left and right. This new idea is “cost disease socialism,” whereby the government subsidizes something like education or healthcare with the aim of making it cheaper only to make it more expensive. If policy makers really want to help people, they’ll end this wasteful and counterproductive practice. Read Full Article »