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Every one would have at least the same "basic" coverage, including physical exams, maternity benefits, well-baby care, alcoholism treatment, and mental-health services. Profit (along with loss) is what enables competition to perform its discovery role: Suppose for a moment that we try to take the profit motive out of health care by going to a system in which government pays for and/or directly provides the services. . . . In markets with good institutions, profit-seeking producers can get answers to these questions by observing prices and their own profits and losses in order to determine which uses of resources are more or less valuable to consumers. . . .
Competition John Stossel Freeman; Nov 2009; 59, 9; Docstoc pg. 39 Reproduced with permission of the copyright owner. Further reprod
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