I was going to write a longer article on this subject, but I decided to be brief this time. (And #$!#$ Blogger swallowed my post). Here are two graphs showing the historical costs, over the past forty years, for two things which Americans buy a lot of:
Here's gasoline (per gallon, in 2012 dollars--image courtesy zFacts).
And here's per capita healthcare costs, also in today's dollars (image courtesy Media Matters):
™--even though, in real dollars, prices are only about double what they were before supply shocks started to hit. The other is frequently regarded as something that we dare not do something else, lest we start down the Slippery Slope to Socialism--even though the price that Americans pay for it has increased by a couple orders of magnitude.
Which is which, and why, is left as an exercise for the reader.
my comments to transportation students
1 hour ago