Politicians would do well to learn the concepts in the book, "Exit, Voice, and Loyalty" by the economist Albert O. Hirschman. Our elected officials confuse the voice of dissatisfaction with the current healthcare system with a mandate to change our healthcare system. They should become fearful, if they are not already, of the power of 'exit'.
The more our politicians include mandates in the change to current medical care in the US, the more they limit individuals' abilities to go outside the government legislated system. The more Congress reduces the electorate's ability to choose an alternative to Congress's vision of healthcare, the more likely it is for US citizens to 'exit' the Congressional system by voting against those who favored the medical system change.
In private enterprises, consumer choice is visible in a business's profits and losses, acts as a check and a powerful force against bad business ideas. The only equivalent in public enterprises is to vote the officials out of elected office. Healthcare is too much of the US economy, people's daily lives, household costs and concerns not to be a significant impact on the next election...
Correcting misconceptions about markets, economics, asset prices, derivatives, equities, debt and finance
Wednesday, November 3, 2010
The Power Of 'Exit' In The 2010 Election
Posted By Milton Recht
As I said in "The Hubris Of Government Healthcare Reform: Exit, Voice, and Loyalty" on October 7, 2009:
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