Health care isn’t our only ludicrously expensive industry
Preview:
Just for fun, let’s design an economic sector guaranteed to cost too much. Then you guess what it is. For openers, we will sell a product deemed a necessity, with little or no option for the customer to avoid us altogether. Next, we will arrange to get paid for inputs, not outputs — how much we do, not how well we do it. We will make certain that actual results are difficult or impossible to measure with confidence. And we’ll layer on a pile of complex federal regulations to run up administrative costs.
Originally published: February 6, 2018
Author: Mitch Daniels
Position: President
Institution: Purdue University
Published by: The Washington Post