We’re beginning to belong to what I call the let’s-make-a-rule economy:
Don’t like what health insurance companies need to earn to stay solvent? Not a problem. Let’s make a rule. In this case, the rule will be a cap on charges that doesn’t address the underlying costs of doing business and ultimately could force companies into bankruptcy.
I don’t know the underlying economic and contractual considerations behind this, but it sounds like just the latest in the let’s-make-a-rule economy: a company says it can’t afford to keep a plant open, but the court says it can’t close it.
Let’s just say that the let’s-make-a-rule society isn’t free market, and I have a hunch that it’s not going to create prosperity. These imaginary rules work only in children’s play.