John Cochrane, economist and professor of finance at Stanford Graduate School of Business and fellow at the Hoover Institution, joins the podcast to discuss the first principles of healthcare regulation.John debunks three arguments most commonly used to justify heavy healthcare regulation: that the poor need protection, that patients lack the information to choose well, and that people in a health crisis can’t shop around. Instead under a free market solutions such as private certification and insurance would price in the risk for consumers, bundle and unbundle better options up like in airlines, retail and other consumer industries.
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