, May 20, 2013

We all know that Stein's Law will someday apply to health care spending, which has risen from 5 percent of the economy (gross domestic product) in 1960 to almost 18 percent now. What we don't know is how and when its share of the economy will stabilize. Will this result from spending controls imposed by Washington; or from delivery-system "reforms" that spontaneously cut "waste"; or from rationing, which limits spending by denying people treatment; or by some combination of these? As for when, could it be now?

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