Charles E. Phelps provides a comprehensive look at our health-care system, including how the current system evolved, how the health-care sector behaves, and a detailed analysis of "the good, the bad, and the ugly" parts of the system--from technological advances (the "good") to variations in treatment patterns (the "bad") to hidden costs and perverse incentives (the "ugly"). He shows that much of the cost of health care ultimately derives from...