The COVID-19 pandemic. The Great Recession. The dot-com bust. The early '90s recession. Every decade or so a disaster hits the United States and reminds us that many American families live one calamity away from financial ruin.
But what if there were a better way to help families protect themselves from life's risks? And what if that way did not further bloat large government bureaucracies and inflate even more their obscene budgets?
Fortunately, author, economist, policy entrepreneur, and Independent Institute Senior Fellow John C. Goodman, Ph.D., has forged just such a path.
In New Way to Care: Social Protections That Put Families First, Goodman offers a bold strategy for giving Americans more control over their destiny, while still promoting—at far less expense—the important social goals that gave rise to government safety-net programs in the first place.
Here are just a few of the life-risks to which Goodman—the "Father of Health Savings Accounts," according to the Wall Street Journal—presents solutions:
- Growing too old and outliving one's assets
- Dying too young and leaving dependent family members without resources
- Becoming disabled and facing financial catastrophe
- Suffering a major health event and being unable to afford needed medical care
- Becoming unemployed and finding no market for one's skills.
In New Way to Care, Goodman invites us to envision smartly crafted social protections that better serve the nation's families—and eliminate the risk that America's safety-net expenditures will drive the U.S. economy over a fiscal cliff. The debate in America over social insurance will never be the same.
"In New Way to Care, John Goodman is consistently ahead of his time with market solutions which align incentives that respect the agency of individuals while ensuring there is a social safety net. What he writes today will be policy in the coming years."
—Bill Cassidy, M.D., U. S. Senator
|Publisher:||Independent Institute, The|
|Sold by:||Barnes & Noble|
|File size:||2 MB|
About the Author
Table of Contents
Introduction A New Approach to Public Policy 1
Section 1 A Better Way to Manage Life's Risks 11
1 The Case for Change 13
2 Balancing Individual and Societal Interests 23
3 Alternatives That Offer Individual Choice 33
4 Choice, Ownership, Responsibility 43
Section 2 Taking a Closer Look at the Risks 53
5 The Risk of Growing Too Old and Outliving One's Assets 55
6 The Risk of Dying Too Young and Leaving Dependent Family Members without Resources 101
7 The Risk of Becoming Disabled and Facing Financial Ruin 103
8 The Risk of Facing a Major Health Event and Being Unable to Afford Needed Medical Care 117
9 The Risk of Becoming Unemployed and Finding No Market for One's Skills 157
10 The Risk of Plagues, Pandemics, and Other Threats to Public Health 167
Section 3 Taking a Closer Look at Some Solutions 175
11 Addressing the Risks of Old Age 177
12 Opting Out of Survivor Insurance 223
13 Opting Out of Disability Insurance 225
14 Addressing the Risk of 111 Health 239
15 Opting Out of Unemployment Insurance 273
16 Combatting the Coronavirus 277
Conclusion Life under a Reformed System 287
Appendix 1 Ten Things You Need to Know about Medicare for All 293
Appendix 2 What Socialized Medicine Looks Like 303
About the Author 371