A REPORT BY THE COUNCIL OF ECONOMIC ADVISORS …
The 2018 referenced report included at the end of this posting is a must read for anyone considering voting for Bernie Sanders or any of the Democratic-Socialists running in the 2020 presidential election who are espousing Medicare For All — free, nationalized healthcare.
As the 72-page report concludes, “The (costly and deadly) experience of nationalized agriculture in socialist countries is relevant because it involved economic disincentives, central planning, and a state monopoly over a sector that was large when socialism was introduced—similar to healthcare today. The historical evidence suggests that the socialist program for the U.S. would make shortages, or otherwise degrade quality, of whatever product or service is put under a public monopoly. The pace of innovation would slow, and living standards generally would be lower. These are the opportunity costs of socialism from a modern American perspective.”
The report requires approximately 90-minutes to read, but it is well worth your time, as it is one of the best modern-day repudiations of socialism and nationalized healthcare to have been published.
Enjoy, share, and pay heed to its prescient warnings!
The-Opportunity-Costs-of-Socialism