A lot of pundits have applauded Barak Obama for bringing to America what most Europeans hate about their medical care system: Socialism. Everybody knows the issues the English have with their NHS or the Canadians with their Universal Healthcare. And the French are discovering that no amount of money will allow them to fix their cherished and yet broken Sécurité Sociale.

The problem with nationalized healthcare is no different than with any other nationalized institution: the lack of accountability. You can try and analyze the reasons for the failure of any system and god knows that people have tried in the past. But at the end of the day we have yet to find anything better than the sanction of failure: no dashboard, KPIs or the likes can replace a P&L statement.

Unfortunately, Obamacare is bound to follow the lead of the previous failed attempts at creating a nationalized healthcare. You just need to check the chart created by The Republicans of the Joint Economic Committee to understand the kind of monster created by the Obama administration and realize why very soon those same pundits will now say that while the idea was good in principle, the execution needs adjusting... just like for socialism. Everyone knows however that socialism cannot be fixed!