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Megan McArdle's Gibberish on Senate Health Care Bill

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I'm back home from the U.K so will be pretty much back up at full speed (apologies for lack of posting yesterday, a 15 hour journey from London to L.A tends to take it out of you). So anyway, I thought I kick off again with my favorite Libertarian mouth piece Megan McArdle over at the Atlantic. As I've said before, I'm sure Megan is a very nice person, but my God does she talk a lot of nonsense.

The healthcare bill that came out of the Senate was generally speaking, complete garbage. There was no public option, no expansion of medicare, and nothing that would control costs (in fact, as Glenn Greenwald persuasively argues, it would severely increase costs to the middle class in the near future). It was, in short, a giant giveaway to the insurance industry.

Yet Megan McArdle has found a way to argue the complete opposite and paint the new bill as creeping socialism that will destroy the economy because of government interference:

I think we'll probably end up eventually with price controls that
reduce innovation, providers that turn into horrid quasi-public
utilities, brain drain out of the medical profession, and pretty
serious rationing......and there's a good chance we'll also end up with a fiscal crisis.
Those are usually pretty bad for everyone, but particularly the
everyones who rely on government benefits.

I'm a state of perpetual amazement at the intellectual gymnastics libertarians play when it comes to justifying an ideology that does not fit facts. They'll argue that the financial crisis was a result of too much regulation, not too little, that the environment can be fixed by the same economic system that has destroyed it, and that the broken healthcare system in America can only be fixed by increasing competition and not regulating them so they don't rip off consumers.

The lengths to which they will go to are extraordinary, and it is a sign of how utterly corrupt the media is in America. McArdle isn't a great writer, and isn't particularly astute either. The only reason she has a job is because she lends a voice to the interests of capital. If it were a true free market based on actual merit, she'd be toiling away like most of the progressives out there who will likely never get to voice their opinions on a paying website or magazine. Instead, she gets paid to write garbage passed off as intellectual discourse. Or put more bluntly, hack work.