Socialized Medicine: An Accounting Perspective
2 hours agoEdward W. Fuller
Opposed to advocates of the profit-and-loss system, many healthcare reformers believe socialized medicine can progressively improve the price, quantity, and quality of healthcare. But can socialized medicine achieve this goal? Accounting theory answers no.
All advocates of socialized medicine commit one fundamental intellectual error: they ignore the overwhelming social importance of financial accounting. Financial accounting is the language of business, the language of production. To fully grasp the main problem with socialized medicine, it is necessary to start with the social function of financial accounting.
https://mises.org/wire/socialized-medicine-accounting-perspective
