Available Now! (click cover)

America's Counter-Revolution
The Constitution Revisited

From the back cover:

This book challenges the assumption that the Constitution was a landmark in the struggle for liberty. Instead, Sheldon Richman argues, it was the product of a counter-revolution, a setback for the radicalism represented by America’s break with the British empire. Drawing on careful, credible historical scholarship and contemporary political analysis, Richman suggests that this counter-revolution was the work of conservatives who sought a nation of “power, consequence, and grandeur.” America’s Counter-Revolution makes a persuasive case that the Constitution was a victory not for liberty but for the agendas and interests of a militaristic, aristocratic, privilege-seeking ruling class.

Tuesday, April 27, 2010

One Last Time: Markets Don't Ration!

The Wall Street Journal takes Donald Berwick, likely the next Medicare chief, to task for saying, “The decision is not whether or not we will ration care—the decision is whether we will ration with our eyes open. And right now, we are doing it blindly.”

Fine. But then the editorial writer adds, “In fact, the real choice with medical care, as with any good or service, is between rationing via politics and bureaucratic lines or via a competitive market and prices.”

Wrong. Markets don’t ration, for the reasons I explain here.

4 comments:

Neera K Badhwar said...

"Markets don't ration..." That's what i thought, but then i heard some economists here talking about rationing via prices.... What's a layperson to do?!

Sheldon Richman said...

Hold your ground!

Neera K Badhwar said...

Holding!

Sheldon Richman said...

We lay folk must stick together.