John McDonough Discusses His Just-Published Book, “America’s Wrong Turn, US Health Care in the Neoliberal Era” (350th Interview)

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Beginning in the 1970s and 1980s (think, e.g., Hayek, Friedman, Reagan, Stockman and Clinton), US policymakers decided healthcare should be defined like any other commercial or market commodity. It’s not, think: Ken Arrow. Therefore, national policymakers under the mantra of the financialization of everything or privatization included healthcare (think: Medicare Advantage); largely per Robert Bork’s book, “The Anti-Trust Paradox” policymakers freed healthcare of anti trust enforcement and increasingly deregulated healthcare (think: the employer-sponsored insurance (EIS) system). Today, US healthcare is arguably the largest industry in the world’s largest economy, with a ~$7.5 trillion…