On Bloomberg.com, Betsy McCaughey reports that tucked into the “stimulus” bill is a provision that will dramatically affect individual health care.
But the bill goes further. One new bureaucracy, the National Coordinator of Health Information Technology, will monitor treatments to make sure your doctor is doing what the federal government deems appropriate and cost effective. The goal is to reduce costs and “guide” your doctor’s decisions (442, 446). These provisions in the stimulus bill are virtually identical to what Daschle prescribed in his 2008 book,“Critical: What We Can Do About the Health-Care Crisis.” According to Daschle, doctors have to give up autonomy and “learn to operate less like solo practitioners.”
Warren Buffet is not a supporter of a real free-market. He’s for a “mixed economy”, and thinks the government ought to be taxing him more, redistributing his money to the poor. He talks about an “ovarian lottery” being responsible for much of his own success (I guess he’s either read John Rawls, or simply picked it up second-hand). As a super-rich self-made man, he’s a prime example of the “sanction of the victim”, asking to be hurt. Neither is Buffet great on economics. Here too, he has bought in to a standard the Keynesian/Monetarist mixture.
So, when Buffet gives advice he’s not saying how we can get to a thriving free-market; rather, he’s really saying: “Here is how we can get to a more stable mixed economy that does not cross the line into stagnation or a downward spiral”. He did this yesterday, appearing on digital website CNBC for a 3-hour special. Since he is somewhat influential, I thought some readers may be interested in what he said. There’s much to dislike in what Buffet says, but I want to present his views in this post; a critique can wait.
I’m going to paraphrase. Also, be warned that I’m going to read between the lines, but I do so with my full sense of honestly. [For what is probably a good transcript: see Gurufocus, but I got my summary from watching the show.]
With all those caveats, here is Warren Buffet’s advice to Obama: Continue reading