100 Years of Market Distortions

Economists often say, “the market has failed in health care,” but this paper argues that if it has failed it is because of 100 years of endless tinkering by various levels of government. The paper walks through the history of health care regulation, beginning with The Early Years – 1900 – 1929; The Formative Era, 1930 – 1949; The Growth Era, 1950 – 1965; The Regulatory ERA, 1965 – 1980; The Competitive Era, 1981 – 1999; and finally The Consumer Era beginning in 2000.