A Tea Party member reaches for a pamphlet on the impact of ObamaCare. Photo: JESSICA RINALDI/Reuters/Corbis
He explains: "Until now there has been sort of a market — but one that…is riddled with problems. It was very hard for individuals to figure out what they were buying… Price and quality comparisons were near-impossible. Under these conditions the magic of the marketplace couldn't work — there really wasn't a proper market."
The main result of ObamaCare is that we have real market competition for health care insurance — something that didn't exist before.
Ironically, it's the Republican Party — the one that says it supports free markets — that continues to do anything possible to derail the law that seems to be making the market work.
On a related note, Bill Clinton — once dubbed the "secretary of explaining stuff" by President Obama for his ability to decipher wonky topics for a general audience — gave a great speech earlier this week to explain how ObamaCare actually works. It's definitely worth watching.
THE WEEK'S AUDIOPHILE PODCASTS: LISTEN SMARTER
- The mystery behind China's aggressive push into space
- 10 things you need to know today: July 30, 2014
- Here's the schedule very successful people follow every day
- What would a U.S.-Russia war look like?
- The 5 best and worst states for a well-lived life
- Why GOP reformers are bound to fail
- How the battle for religious freedom became a nonsensical free-for-all
- Pay yourself first: The habit that can help you build wealth
- 7 grammar rules you really should pay attention to
- Stop calling the GOP the party of new ideas
Subscribe to the Week