The Romanow commission was a shameful waste of time and money. Mr. Romanow wants us to believe that socialist medicine is good while private, for-profit medicine is bad. But the exact opposite is true.
We have reams of evidence that capitalism generates better products and services at lower costs. Consider the computer industry where we keep getting vastly better computers at lower prices; or consider the telephone industry where long-distance rates plummeted after privatization. Free market competition works because it rewards people for being innovative, productive and responsible.
Likewise, we have we have reams of evidence that socialism leads to rising costs, longer lineups and poorer quality. Consider all the poor and miserable socialist countries of the last century. Even Sweden embraced some privatized medicine. Socialism always fails because it punishes those who are creative, productive and responsible in order to reward those who, for whatever reason, are not. And there’s another reason. When the government extorts money from people to pay for health care, the providers become accountable to the government — not the patient. Unlike under capitalism, there is no real incentive for providers to innovate to improve quality and efficiency.
Nobody can predict what new discovery will be made in medicine to drastically reduce costs and save lives. Only capitalism provides the incentive to innovate. Contrary to what many believe, socialism doesn’t help the poor; it merely bulldozes everyone down. The moral and practical solution to our health-care woes is private, for-profit health care.