Profit Is Key To Competition

"Choice, competition, reducing costs -- those are the things that I want to see accomplished in this health reform bill," President Obama told talk-show host Michael Smerconish last week. Choice and competition would be good. They would indeed reduce costs. If only the president meant it. Or understood it. In a free market, a business that is complacent about costs learns that its prices are too high when it sees lower-cost competitors winning over its customers. The market -- actually, the...Full Story
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