Tuesday 12 July 2016 / Hour 1, Block C: Brian Blase, Mercatus Center Senior Research Fellow, and Forbes; in re: Adam Smith’s genius of 1777. Americans make a market of [almost everything]. People who use the ACA plans are older, sicker and cagier than the Obama Adm imagined, allowed for, or expected. United Health Care, the largest in the country, is exiting all the exchanges. People respond rationally: those who receive large subsidies enter; people who are healthy do not buy the coverage. Flawed plan from the beginning: risk pricing not taken into account.