The Health Care Arms Race

Are you a fan of Dr. Seuss?  If so, you must see this new video on health care costs done in the style of the good doctor.  If not, watch it anyway.  It displays what happens when supply drives demand, and demand is fueled by third party funding.  Yes, those of you in Money and Monetary Policy will recognize the OPM principle at work:  people spend Other People’s Money much differently than they do their own.  Another principle is also involved.  The creation of jobs for jobs sake is not sustainable.  “Oh, The Jobs You Create” becomes “Oh, The Debt You Create.”  Enjoy.