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Correspondence
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Volume 338:476 February 12, 1998 Number 7
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The Health Care Market

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To the Editor: In the article entitled "Trends in Health Care Coverage and Financing and Their Implications for Policy," Smith (Oct. 2 issue)1 analyzes the health care market and concludes that the market has failed to provide adequate amounts of uncompensated care. Actually, the market has not failed at all. It is the belief that everyone can have all the health care they want at the expense of everybody else that has failed.

Markets are mechanisms for creating wealth through voluntary exchange. Insurance companies, as market entities, are not tax-supported welfare agencies. If they do not make a profit, by . . . [Full Text of this Article]

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