When it comes to health insurance reform, California State University, Northridge economist Glen Whitman emphasizes, "We have to make sure we don't just fix the parts that are broken. We also have to make sure we don't actually break the parts that are working very well. And it turns out that one of the areas that America is really great at is innovation."
Reason.tv's Ted Balaker sat down with Whitman to discuss his new Cato Institute policy analysis, coauthored with Raymond Raad, "Bending the Productivity Curve: Why America Leads the World in Medical Innovation."
Whether it's Nobel laureates in medical fields or the most important recent medical innovations, Whitman and Raad find that the U.S. has contributed more than any other nation, and in some cases, more than all nations combined. Whitman cites some key factors that account for America's innovative ways, and warns that if America adopts a more centrally planned health system we may not only innovate less but we might not know what innovations we're missing.
Interview shot by Alex Manning and Hawk Jensen; it was edited by Manning. Approximately 10 minutes.
And some people want to change our system that shoulders the burden of the world and leads it in innovation into something resembling a system that doesn't.