State of Innovation

Patents and Innovation Economics

Health Care: The End of Freedom

The passage of the health care bill is the end of the American experiment with freedom.  This experiment with freedom created the greatest country in the world that propelled the world out of the Malthusian trap into unprecedented wealth.  This wealth and more importantly freedom was more widely distributed and benefited more people than any other time in the history of the world.  You no longer have the right to “pursuit of happiness.”  Here are some of the consequences of the health care bill:

1) Bankruptcy:  The US will become insolvent in the next decade.  By insolvent I mean either the US will renege on the terms of some of its debt or we will have double digit inflation.

 2) Constitution: The Constitution is now a meaningless piece of paper.  Any pretence that the government is limited has died.  The government can enact any legislation requiring anyone to take actions that government deems in its interest.  The government does not work for you, you work for the government; your only purpose is to serve the government.

3) Medical Innovation is Dead: This law ensures that we will have essentially no innovation in medicine.  The US is the only major country that invests in pharmaceutical research.  Most countries have been free riding on US medical research for years.

Here is a timely speech by Ronald Reagan on point

March 23, 2010 Posted by dbhalling | Uncategorized | , , , | 10 Comments