Wednesday, September 29, 2010

Time, After All, *Is* Money

An interesting article on how waiting times serve as a substitute for prices in the "free" Canadian health care system.

Given the current structure of the Canadian healthcare system, the long patient wait times are here to stay. Those that believe the problem could be solved by increasing the supply of health services ignore the large demand effect of a reduction in wait times. Others, who believe that waiting is an unavoidable fact of life, ignore the fact that the long wait times are an artifact of the "priceless," politically administered supply system.

The Canadians could, without a horrible expenditure, increase staffing in their legendarily-overcrowded emergency rooms. But, according to the author, that would just increase the crowds. Read the whole thing.

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