The architect of Obamacare, Ezekiel Emanuel, was in San Francisco yesterday to attend the 35th Annual JP Morgan Healthcare Conference.
I caught up with him at the Commonwealth Club and challenged him to explain why his central planning system was better than free markets. His answer was uninspiring and suggested the thinking of a man who does not understand free market allocation systems, free market pricing as signals for businessmen and consumers and free markets as a structure which provides incentives for businesses to provide better and cheaper products to consumers.
In a follow-up question, I asked him how he addressed the view of Friedrich Hayek that central planners of economies held a fatal conceit about their ability to plan complex systems with dispersed knowledge. As you will observe, he does not appear to be a fan of Hayek.