Accept that healthcare costs will not decline

Third, Americans are not generally willing to engage in a cost-benefit analysis when it comes to treating sick loved ones.

Fourth, medical care is a luxury good, and affluent countries and people tend to spend more than poorer ones.

These driving forces do not mean that measures should not be taken to reduce waste and inefficiency, but even in an optimally efficient healthcare system, the driving forces will tend to increase costs.

Williams can be heard daily on Sirius/XM Power 169 from 9 to 10 p.m. and from 5 to 6 a.m.


More in International

Paris attacks should strengthen US resolve to accept more refugees

Read more »