The Invaluable Gina Kolata Strikes Again

Read the story of her running injury here.

My interpretation of her story is that the market will often deliver a better diagnosis and more efficient treatment than that specialist who happens to be in your network.  But the market has to be able to experiment with new approaches, such as telemedicine.  And the patient has to care about the money she’s spending.

For more, read Arnold Kling’s Crisis of Abundance.