'It's a sure winner—except for the profiteers': 200+ economists send letter to Congress endorsing Medicare for All

"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
33. Jim Campen, Professor of Economics, Emeritus, University of Massachusetts Boston
34. José Caraballo, Professor, University of Puerto Rico
35. Scott Carter, Professor of Economics, The University of Tulsa
36. James F Casey, Associate Professor of Economics, Washington and Lee University
37. John Dennis Chasse, Professor Emeritus, SUNY College at Brockport
38. Robert Chernomas, Professor of Economics, University of Manitoba
39. Kimberly Christensen, Economics Professor, Sarah Lawrence College
40. Douglas Cliggott, Lecturer, Economics, University of Massachusetts
41. Nathaniel Cline, Associate Professor, University of Redlands
42. Richard Cornwall, Professor Emeritus, Middlebury College
43. James Crotty, Emeritus Professor, University of Massachusetts
44. Dr. James Cypher, Professor of Economics, Universidad Autonoma de Zacatecas, Mexico, and Emeritus Professor, California State University
45. Omar Dahi, Hampshire College
46. Anita Dancs, Associate Professor of Economics, Western New England University
47. Paul Davidson, Emeritus Professor Chair of Honor, University of Tennessee
48. Charles Davis, Professor of Labor Studies, Indiana University
49. Carmen Diana Deere, Distinguished Professor Emerita, University of Florida
50. George DeMartino, Professor, JKSIS, University of Denver
51. Firat Demir, Professor, University of Oklahoma
52. James G. Devine, Professor of Economics, Loyola Marymount University
53. Geert Dhondt, Associate Professor, John Jay College, CUNY
54. Peter Dorman, Professor of Political Economy, Evergreen State College
55. Richard Du Boff, Professor Emeritus, Bryn Mawr College
56. Marie C. Duggan, Professor of Economics, Keene State College
57. Amitava Krishna Dutt, Professor of Economics and Political Science, University of Notre Dame
58. Nina Eichacker, Assistant Professor, University of Rhode Island
59. David P Ellerman, Visiting Scholar, University of California at Riverside
60. Gerald Epstein, Professor of Economics, University of Massachusetts Amherst
61. Thomas Ferguson, Professor Emeritus, University of Massachusetts Boston
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
68. James K. Galbraith, Professor, University of Texas at Austin
69. Barbara Garson, Author, Money Makes the World Go Round
70. Armagan Gezici, Associate Professor of Economics, Keene State College
71. Helen Lachs Ginsburg, Professor Emerita of Economics, Brooklyn College/CUNY
72. Mwangi Wa Githinji, Associate Professor, University of Massachusetts-Amherst
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
77. Robin E Hahnel, Professor Emeritus, American University
78. John Battaile Hall, Professor of Economics, Portland State University
79. Jay Hamilton, Assistant Professor, John Jay College
80. Greg P. Hannsgen, Founder and Blogger, Greg Hannsgen’s Economics Blog, and Research Associate, Levy Economics Institute of Bard College
81. John T. Harvey, Professor of Economics, Texas Christian University
82. Baban Hasnat, Professor of International Business, SUNY Brockport
83. F. Gregory Hayden, Professor, University of Nebraska-Lincoln
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
104. David Laibman, Professor Emeritus, Economics, City University of New York, and Editor, Science & Society
105. Thomas Lambert, Lecturer, University of Louisville
106. Anthony Laramie, Professor of Economics, Merrimack College
107. Margaret Levenstein, Research Professor, Institute for Social Research and School of Information, University of Michigan
108. An Li, Assistant Professor, Sarah Lawrence College
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
126. John Miller, Professor of Economics, Wheaton College
127. Katherine A. Moos, Assistant Professor of Economics, University of Massachusetts Amherst
128. Tracy Mott, Professor, University of Denver
129. Michele Naples, Professor of Economics, The College of New Jersey
130. Daniel H. Neilson, Faculty in Economics, Bard College at Simon’s Rock
131. Edward J. Nell, Emeritus Professor, New School for Social Research
132. Julie A. Nelson, Professor, University of Massachusetts Boston
133. Reynold F. Nesiba, Professor of Economics, Augustana University
134. John Casey Nicolarsen, Visiting Professor, Sarah Lawrence College
135. Eric Nilsson, Professor, California State University San Bernardino
136. Erik Olsen, Associate Professor, University of Missouri Kansas City
137. Paulette Olson, Professor Emerita, Wright State University
138. Lenore Palladino, Senior Economist, Roosevelt Institute
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
146.  Robert Pollin, Distinguished Professor of Economics, University of Massachusetts Amherst, and Co-Director, Political Economy Research Institute (PERI)
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
150. John Roche, Associate Proferssor Emeritus, St John Fisher College
151. Leonard Rodberg, Emeritus Professor of Urban Studies, Queens College/CUNY
152. Leanne Roncolato, Assistant Professor of Economics, Franklin and Marshall College
153. Frank Roosevelt, Emeritus Professor of Economics, Sarah Lawrence College
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
173.  Howard Stein, Professor, University of Michigan, Ann Arbor
174.  Jose A. Tapia, Associate Professor, Drexel University
175. Linwood Tauheed, Associate Professor, University of Missouri Kansas City
176.  Daniele Tavani, Associate Professor, Colorado State University
177. Pavlina R. Tcherneva, Program Director and Associate Professor of Economics, Bard College, and Research Associate, Levy Economics Institute
178. Chris Tilly, Professor of Urban Planning, UCLA Luskin School of Public Affairs
179. E. Ahmet Tonak, Visiting Professor, Economics, University of Massachusetts Amherst
180.  Mariano Torras, Professor, Adelphi University
181.  Andres Torres, Distinguished Lecturer, Lehman College (retired)
182.  Mayo Toruno, Professor Emeritus, California State University San Bernardino
183. Eric Tymoigne, Associate Professor of Economics, Lewis & Clark College
184. Vamsi Vakulabharanam, Associate Professor of Economics, University of Massachusetts Amherst
185. William Van Lear, Economics Professor, Belmont Abbey College
186. Ramaa Vasudevan, Associate Professor, Colorado State University
187. Tanadej Vechsuruck, Assistant Professor, University of Rhode Island
188.  William Waller, Professor of Economics, Hobart and William Smith Colleges
189.  John P. Watkins, Professor of Economics, Westminster College, and Adjunct Professor of Economics, University of Utah
190. David F. Weiman, Professor of Economics, Barnard College, Columbia University
191.  Scott A. Weir, Ph.D. in Economics, Retired
192. Jeannette Wicks-Lim, Associate Research Professor, Political Economy Research Institute
193. Noé Wiener, Lecturer, University of Massachusetts Amherst
194.  Robert B. Williams, Professor of Economics, Guilford College
195. John Willoughby, Professor, Department of Economics, American University
196.  Benjamin Wilson, Assistant Professor, SUNY CortlandL
197. Lucas Wilson, Professor, Mount Holyoke College
198. Valerie Wilson, Director, Program on Race, Ethnicity & the Economy, Economic Policy Institute
199.  Andrew J Winnick, Professor Emeritus, California State University Los Angeles
200. Jon D. Wisman, Professor of Economics, American University
201. Richard D. Wolff, Professor of Economics Emeritus, University of Massachusetts Amherst
202. L. Randall Wray, Professor of Economics and Senior Scholar, Bard College and Levy Economics Institute
203. Brenda Wyss, Associate Professor, Wheaton College Massachusetts
204. Yavuz Yasar, Associate Professor, University of Denver
205. Tai Young-Taft, Assistant Professor of Economics, Bard College at Simon’s Rock, and Research Scholar, Levy Economics Institute of Bard College
206. June Zaccone, Associate Professor of Economics, Emerita, Hofstra University
207. Ajit Zacharias, Senior Scholar, Levy Economics Institute
208. German A. Zarate-Hoyos, Associate Professor, SUNY Cortland
209. Gabriel Zucman, Assistant Professor of Economics, University of California, Berkeley