Health care is beset with an array of market failures (e.g., informational asymmetries, externalities, monopolization, and public goods). In theory, government can intervene to fix these market failures, allowing scarce resources to be devoted to their highest use at the lowest possible cost...

President Barack Obama signed the Affordable Care Act (ACA) in 2010 with no Republican support. The ACA has been politically divisive ever since, with the House repeatedly voting for repeal. Earlier this year, Congress successfully passed a repeal, with the Senate using a legislative process...