Albuquerque Journal (Albuquerque, NM)

Forget nice: Rational player will go where the money is.

Byline: Money & Medicine WINTHROP QUIGLEY Of the Journal

In the early 1970s, lumber producers drilled holes in boards, then filled the holes with wood putty before selling them.

Chicken farmers destroyed thousands of chicks.

Oil companies built refineries they didn't need.

Every one of them was behaving completely rationally.

If you want to understand New Mexico's distressed health-care environment, you must first believe a chicken farmer who destroys his chickens is a rational human being.

Consider: Richard Nixon imposed wage and price controls in August 1971 to quell what he thought was an intolerably high inflation rate 3. …

Log in to your account to read this article – and millions more.