Here’s a letter that I sent to the New York Times:
Paul Krugman thinks it wrong that health insurers don’t cover pre-existing conditions (“Health Reform Myths,” March 12). Apparently, he believes that each market participant should ignore the value of what she gets in exchange for what she gives.
I wonder if Prof. Krugman has thought through the implications of his belief. I propose a bet to test the soundness of his thinking. Let’s flip a coin. If it lands on its edge, I pay Prof. Krugman $1; if it lands either heads or tails, he pays me $1,000,000.
If he genuinely believes that health-insurers should ignore pre-existing conditions, then surely Prof. Krugman won’t allow the pre-existing condition of the coin’s shape to prevent him from accepting my bet.
Donald J. Boudreaux