A while back I talked about the health care and health insurance market and how it is the result of tremendous government regulation. There are portions that involve competition, but they are limited by a variety of matters, including large distortions from licensing, regulation, tax exclusions, and government provided health care. The matters are so complicated, it is hard to get a handle on it. The transfers and redistributions are significant and hard to follow. But it is worthwhile just attempting to describe some basic aspects of this sector. One take on what is happening is the following story. It is my…
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