In this second edition of their 2005 work, the authors offer market-based alternatives to recent health care reforms that center on tax changes, insurance market changes, and the redesign of Medicare and Medicaid. They show that, by promoting cost- conscious behavior and competition in both private markets and government programs such as Medicare and Medicaid, we can slow the rate of growth of health care costs, expand access to high-quality health care, and slow down runaway spending.

John F. Cogan is the Leonard and Shirley Ely Senior Fellow at the Hoover Institution, Stanford University. R. Glenn Hubbard is the Dean and Russell L. Carson Professor of Finance and Economics, Graduate School of Business, and a professor of economics at Columbia University. He is also a research associate at the National Bureau of Economic Research and a visiting scholar at the American Enterprise Institute. Daniel P. Kessler is a professor of economics, law, and policy at the Stanford University Graduate School of Business; a senior fellow at the Hoover Institution, Stanford University; and a research associate at the National Bureau of Economic Research.