https://portside.org/2019-05-22/its-sure-winner-except-profiteers-200-economists-send-letter-congress-endorsing-medicare

Ahead of a historic single-payer hearing at the House Budget Committee on Wednesday, more than 200 economists sent a letter to Congress blasting America's "exorbitant and wasteful" healthcare system and endorsing Medicare for All as the most humane and cost-effective solution.

"America's health system turns our survival over to greedy companies with the market power to set outrageously high prices," Jeffrey Sachs, professor of economics at Columbia University and one of the letter's 209 signatories, said in a statement on Tuesday.

"Medicare for All will give us a system already proven in other countries: much lower costs with less hassle and worry. It's a sure winner—except for the profiteers." 
—Jeffrey Sachs, Columbia University

"Medicare for All will give us a system already proven in other countries: much lower costs with less hassle and worry," Sachs said. "It's a sure winner—except for the profiteers."

In their letter (pdf), the economists highlighted the fact that the United States spends far more on healthcare than other industrialized nations while achieving significantly worse results—a crisis they say can be remedied by transitioning to a single-payer system.

"Evidence from around the world demonstrates that publicly financed healthcare systems result in improved health outcomes, lower costs, and greater equity," the letter states. "For these reasons the time is now to create a universal, single-payer, Medicare for All healthcare system in the United States."

The economists' endorsement of Medicare for All comes just 24 hours before the House Budget Committee is scheduled to hold just the second-ever congressional hearing on single-payer. The panel will discuss Rep. Pramila Jayapal's (D-Wash.) Medicare for All Act of 2019, which currently has 108 co-sponsors.

National Nurses United (NNU), which has been leading efforts to build grassroots support for Medicare for All nationwide, urged Americans to call members of the Budget Committee and let them know "we're counting on their support."

"For patients, the effects would be life-changing," NNU president Jean Ross said in a statement Tuesday. "A Medicare for All system would guarantee the care we need throughout our lifetimes and patients would no longer have to deal with debilitating premiums, out-of-pocket costs, hospital bills, and drug costs again."

Read the economists' full letter:

As economists, we understand that a single-payer "Medicare for All” health insurance system for the U.S. can finance good-quality care for all U.S. residents as a basic right while still significantly reducing overall health care spending relative to the current exorbitant and wasteful system. Healthcare is not a service that follows standard market rules. It should therefore be provided as a public good.

Evidence from around the world demonstrates that publicly financed healthcare systems result in improved health outcomes, lower costs, and greater equity. As of 2017, the U.S. spent $3.3 trillion annually on healthcare. This equaled 17 percent of U.S. GDP, with average spending at about $10,000 per person. By contrast, Germany, France, Japan, Canada, the U.K., Australia, Spain and Italy spent between 9 – 11 percent of GDP on health care, averaging $3,400 to $5,700 per person. Yet average health outcomes in all of these countries are superior to those in the United States. In all of these countries, the public sector is predominant in financing heath care.

For these reasons the time is now to create a universal, single-payer, Medicare for All health care system in the United States.

Public financing for health is not a matter of raising new money for healthcare, but of reducing total healthcare outlays and distributing payments more equitably and efficiently. Implementing a unified single-payer system would reduce administrative costs and eliminate individuals' and employers' insurance premiums and out-of-pocket costs. If combined with public control of drug prices and a dramatically simplified global budgeting system, a sensible Medicare financing system would reduce healthcare costs while guaranteeing access to comprehensive care and financial security to all.

As such, we support publicly and equitably financed healthcare through a Medicare for All system at the Federal level, as described in H.R. 1384 and S. 1129. We encourage Congress to move forward with implementing a public financed Medicare for All plan to achieve the equitable and affordable universal healthcare system that the American people need.

Signed,

1. Randy Albelda, Professor of Economics, University of Massachusetts Boston
2. Carolyn B. Aldana, Professor Emeritus, California State University, San Bernardino
3. Mona Ali, Associate Professor of Economics, SUNY New Paltz
4. Larry Allen, Professor of Economics, Lamar University
5. Jack Amariglio, Emeritus Professor of Economics, Merrimack College
6. Eileen Appelbaum, Co-Director and Senior Economist, Center for Economic and Policy Research
7. Peter Arno, Senior Fellow & Director Health Policy Research, Political Economy Research Institute, University of Massachusetts, Amherst
8. Michael Ash, Professor of Economics & Public Policy, University of Massachusetts Amherst
9. Glen Atkinson, Emeritus Professor of Economics, University of Nevada, Reno
10. M V Lee Badgett, Professor of Economics, University of Massachusetts Amherst
11. Ron Baiman, Assistant Professor of Economics, Benedictine University
12. Dean Baker, Senior Economist, Center for Economic and Policy Research
13. Radhika Balakrishnan, Professor, Rutgers University
14. Nina Banks, Associate Professor of Economics, Bucknell University
15. David Barkin, Distinguished Professor, Universidad Autonoma Metropolitana
16. Charles Barone, Professor Emeritus, Dickinson College
17. Deepankar Basu, Associate Professor, University of Massachusetts Amherst
18. Lourdes Beneria, Professor Emerita, Cornell University
19. Peter H. Bent, Assistant Professor, American University of Paris
20. Suzanne Bergeron, Professor, University of Michigan Dearborn
21. Cyrus Bina, Distinguished Research Professor of Economics, University of Minnesota (Morris Campus), and Fellow, Economists for Peace and Security
22. Josh Bivens, Research Director, Economic Policy Institute
23. Robert A. Blecker, Professor of Economics, American University
24. Peter Bohmer, Faculty in Economics and Political Economy, The Evergreen State College
25. Howard Botwinick, Associate Professor of Economics, SUNY Cortland
26. Roger Even Bove, Ph.D. in Economics, West Chester University (retired)
27. James K. Boyce, Professor Emeritus, University of Massachusetts Amherst
28. Robert Brenner, Director, Center for Social Theory and Comparative History, UCLA
29. Michael Brün, Instructor, Heartland Community College
30. Antonio Callari, Professor, Franklin and Marshall College
31. Al Campbell, Emeritus Professor of Economics, University of Utah
32. Martha Campbell, Associate Professor of Economics, Emeritus, SUNY Potsdam
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34. José Caraballo, Professor, University of Puerto Rico
35. Scott Carter, Professor of Economics, The University of Tulsa
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39. Kimberly Christensen, Economics Professor, Sarah Lawrence College
40. Douglas Cliggott, Lecturer, Economics, University of Massachusetts
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59. David P Ellerman, Visiting Scholar, University of California at Riverside
60. Gerald Epstein, Professor of Economics, University of Massachusetts Amherst
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62. Ellen Fitzpatrick, Professor, Merrimack College
63. Sean Flaherty, Professor of Economics, Franklin and Marshall College
64. Nancy Folbre, Professor Emerita of Economics, University of Massachusetts Amherst
65. Mariko Frame, Assistant Professor of Economics, Merrimack College
66. Dania V. Francis, Assistant Professor, University of Massachusetts Amherst
67. Gerald Friedman, Professor of Economics, University of Massachusetts Amherst
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69. Barbara Garson, Author, Money Makes the World Go Round
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73. Art Goldsmith, Professor of Economics, Washington and Lee University
74. Neva Goodwin, Co-director, GDAE, Tufts University
75. Ulla Grapard, Professor of Economics and Women’s Studies, Emerita, Colgate University
76. Robert Guttmann, Augustus B Weller Professor of Economics, Hofstra University
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80. Greg P. Hannsgen, Founder and Blogger, Greg Hannsgen’s Economics Blog, and Research Associate, Levy Economics Institute of Bard College
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84. Carol E. Heim, Professor of Economics, University of Massachusetts Amherst
85. John Forrest Henry, Senior Scholar, Levy Economics Institute, and Adjunct Professor, University of Missouri-Kansas City
86. P. Sai-wing Ho, Professor, University of Denver
87. Joan Hoffman, Professor, John Jay College of Criminal Justice CUNY
88. Barbara Hopkins, Professor, Wright State University
89. Candace Howes, Professor of Economics, Connecticut College
90. Eric Hoyt, Ph.D. in Economics, University of Massachusetts Amherst, and Research Director, Center for Employment Equity
91. Joseph Michael Hunt, Instructor, Environmental and Health Policy, Harvard Uiversity
92. Dorene Isenberg, Professor of Economics, University of Redlands
93. Tae-Hee Jo, Associate Professor, SUNY Buffalo State
94. Fadhel Kaboub, Associate Professor of Economics, Denison University, and President, Global Institute for Sustainable Prosperity
95. Stephanie A Kelton, Professor of Economics and Public Policy, Stony Brook University, and Senior Economic Advisor, Bernie2020 Presidential Campaign
96. Haider A Khan, John Evans Distinguished University Professor, University of Denver
97. Mu-Jeong Kho, University College London, the University of London
98. Marlene Kim, Professor, University of Massachusetts Boston
99. Mary C. King, Professor of Economics Emerita, Portland State University
100. Charalampos Konstantinidis, Associate Professor, University of Massachusetts Boston
101. Kazim Konyar, Professor of Economics, California State University, San Bernardino
102. Brent Kramer, Adjunct Assistant Professor, City University of New York
103. Patrick L Mason, Professor of Economics, Florida State University, and Director, African American Studies Program
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105. Thomas Lambert, Lecturer, University of Louisville
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107. Margaret Levenstein, Research Professor, Institute for Social Research and School of Information, University of Michigan
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109. Victor D. Lippit, Professor Emeritus of Economics, University of California, Riverside
110. James Luke, Professor of Economics, Lansing Community College
111. Daniel MacDonald, Assistant Professor, California State University San Bernardino
112. Arthur MacEwan, Professor Emeritus of Economics, University of Massachusetts Boston
113. Allan MacNeill, Professor, Webster University
114. Zagros Madjd-Sadjadi, Full Professor of Economics, Winston-Salem State University, and Former Chief Economist, City and County of San Francisco
115. Yahya M. Madra, Associate Professor of Economics, Drew University
116. Theresa Mannah-Blankson, Assistant Professor of Economics, Messiah College
117. Thomas Masterson, Director of Applied Micromodeling, Levy Economics Institute of Bard College
118.  Gabriel Mathy, Assistant Professor, American University
119. Peter H Matthews, Dana Professor of Economics, Middlebury College
120. Scott McConnell, Associate Professor of Economics, Eastern Oregon University, and Owner/CEO, Side A Brewing
121. Elaine McCrate, Economics Professor Emerita, University of Vermont
122. Terrence McDonough, Professor Emeritus, National University Ireland Galway
123. Martin Melkonian, Adjunct Associate Professor, Economics, Hofstra University
124. Peter B. Meyer, Professor Emeritus of Urban Policy and Economics, University of Louisville
125. Thomas Michl, Professor of Economics, Colgate University
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127. Katherine A. Moos, Assistant Professor of Economics, University of Massachusetts Amherst
128. Tracy Mott, Professor, University of Denver
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139. Christian Parenti, Associate Professor Department of Economics, John Jay College CUNY
140. Mark Paul, Assistant Professor of Economics, New College of Florida
141. Eva Paus, Professor of Economics, Mount Holyoke College
142. Karen A Pfeifer, Professor Emerita of Economics, Smith College
143. Lynda Pickbourn, Assistant Professor of Economics, Hampshire College
144.  Bruce Pietrykowski, Professor of Economics, University of Michigan-Dearborn
145.  Chiara Piovani, Associate Professor, University of Denver
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147. Devin T. Rafferty, Assistant Professor, Saint Peter’s University, and Founding Director, MS Finance Program
148. Pratistha Joshi Rajkarnikar, Postdoc Scholar, Global Development and Environment Institute, Tufts University
149. Michael Robinson, Professor of Economics, Mount Holyoke College
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152. Leanne Roncolato, Assistant Professor of Economics, Franklin and Marshall College
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154. Jaime Ros, Emeritus Professor, University of Notre Dame, and Professor of Economics, National Autonomous University of Mexico
155. Nancy E Rose, Professor Emeritus, California State University San Bernardino
156. Trevor R. Roycroft, Ph.D., Professor Emeritus, Ohio University
157. David F. Ruccio, Professor of Economics, University of Notre Dame
158. Jeffrey D. Sachs, Professor, Columbia University
159. Gregory M Saltzman, Professor of Economics and Management, Albion College
160. John Sarich, The Cooper Union for the Advancement of Science and Art
161. John Schmitt, Vice President, Economic Policy Institute
162. Jeremy Schwartz, Associate Professor, Loyola University Maryland
163. Elliott Sclar, Emeritus Professor, Columbia University
164. Stephanie Seguino, Professor of Economics, University of Vermont
165.  Mark Setterfield, Professor of Economics, New School for Social Research
166.  Anwar Shaikh, Professor, New School for Social Research
167.  Barry G. Shelley, Senior Lecturer, Pardee School of Global Studies, Boston University
168.  Zoe Sherman, Assistant Professor of Economics, Merrimack College
169. Heidi Shierholz, Senior Economist and Director of Policy, Economic Policy Institute
170. Hee-Young Shin, Assistant Professor, Wright State University
171. Nicholas Shunda, Associate Professor of Economics, University of Redlands
172. Kellin Stanfield, Assistant Professor of Economics, Hobart and William Smith Colleges
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174.  Jose A. Tapia, Associate Professor, Drexel University
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