In past posts opposing the centralization and federal management of health care, I've argued that public choice theory ought to cause us to be skeptical of replacing markets with the allocation of goods by legal command. The idea is that highly motivated insiders will hijack the political process and engage in rent seeking that diminishes social welfare. Some commentators have been skeptical. They have more faith in the political process to rationally and efficiently decide who should get what.
But doesn't the mere assembly of the health care package prove my point? It's full of rent seeking. We know hear that the unions are to be exempt - until 2018 - from the luxury tax on cadillac health plans. We've seen the Louisiana Purchase, the Cornhusker Kickback and the Florida Favor.
I can't get myself to believe that Scott Brown will beat Martha Coakley in Massachusetts next week. But if he does, this bill - as we know it - is dead. Or the Democrats will be in November.