Socialized medicine is a term used to describe a system for providing medical and hospital care for all at a nominal cost by means of government regulation of health services and subsidies derived from taxation. It is used primarily and usually pejoratively in United States political debates concerning health care, because of the U.S. culture's historically negative associations with socialism. The term may be used by some in referring to a system of universal health care. The term was first widely used in the United States by advocates of the American Medical Association in opposition to President Harry S. Truman's 1947 health-care initiative.

Jonathan Oberlander, a professor of health policy at the University of North Carolina, maintains that the term does not mean anything at all. Exact definitions vary, but the term refers to any system of medical care that is publicly financed and government administered. If the system of care is publicly financed and privately delivered, it is called a single-payer system. This is what Canada has.

Ronald Wilson Reagan ( /ˈrɒnəld ˈwɪlsən ˈreɪɡən/; February 6, 1911 – June 5, 2004) was the 40th President of the United States, serving from 1981 to 1989. Prior to that, he was the 33rd Governor of California from 1967 to 1975 and a radio, film and television actor.

Born in Tampico, Illinois and raised in Dixon, Reagan was educated at Eureka College, earning a Bachelor of Arts degree in economics and sociology. After his graduation, Reagan moved first to Iowa to work as a radio broadcaster and then in to Los Angeles in 1937 where he began a career as an actor, first in films and later television. Some of his most notable films include Knute Rockne, All American, Kings Row, and Bedtime for Bonzo. Reagan served as president of the Screen Actors Guild, and later as a spokesman for General Electric (GE); his start in politics occurred during his work for GE. Originally a member of the Democratic Party, his positions began shifting rightward in the late 1950s, and he switched to the Republican Party in 1962. After delivering a rousing speech in support of Barry Goldwater's presidential candidacy in 1964, he was persuaded to seek the California governorship, winning two years later and again in 1970. He was defeated in his run for the Republican presidential nomination in 1968 as well as 1976, but won both the nomination and general election in 1980, defeating incumbent Jimmy Carter.

John F. Stossel (born March 6, 1947) is an American consumer reporter, investigative journalist, author and libertarian columnist. In October 2009 Stossel left his long time home on ABC News to join the Fox Business Channel and Fox News Channel, both owned and operated by News Corp. He hosts a weekly news show on Fox Business, Stossel, which debuted on December 10, 2009. The show airs in prime time every Thursday, repeating on both Saturdays and Sundays. Stossel also regularly provides signature analysis, appearing on various Fox News shows, including weekly appearances on The O'Reilly Factor, in addition to writing the Fox News Blog, "John Stossel's Take".

Stossel practices advocacy journalism, often challenging conventional wisdom. His reporting style, which is a blend of commentary and reporting, reflects a libertarian political philosophy and his views on economics are largely supportive of the free market.

In his decades as a reporter, Stossel has received numerous honors and awards, including nineteen Emmy awards and has been honored five times for excellence in consumer reporting by the National Press Club. John Stossel is doctor honoris causa from Universidad Francisco Marroquín. Stossel has written two books recounting how his experiences in journalism shaped his socioeconomic views, Give Me a Break in 2004 and Myths, Lies, and Downright Stupidity in 2007.

Milton Friedman (July 31, 1912 – November 16, 2006) was an American economist, statistician, and author who taught at the University of Chicago for more than three decades. He was a recipient of the Nobel Memorial Prize in Economic Sciences, and is known for his research on consumption analysis, monetary history and theory, and the complexity of stabilization policy. As a leader of the Chicago school of economics, he influenced the research agenda of the economics profession. A survey of economists ranked Friedman as the second most popular economist of the twentieth century behind John Maynard Keynes, and The Economist described him as "the most influential economist of the second half of the 20th century…possibly of all of it."

Friedman's challenges to what he later called "naive Keynesian" (as opposed to New Keynesian) theory began with his 1950s reinterpretation of the consumption function, and he became the main advocate opposing activist Keynesian government policies. In the late 1960s he described his own approach (along with all of mainstream economics) as using "Keynesian language and apparatus" yet rejecting its "initial" conclusions. During the 1960s he promoted an alternative macroeconomic policy known as "monetarism". He theorized there existed a "natural" rate of unemployment, and argued that governments could increase employment above this rate (e.g., by increasing aggregate demand) only at the risk of causing inflation to accelerate. He argued that the Phillips curve was not stable and predicted what would come to be known as stagflation. Friedman argued that, given the existence of the Federal Reserve, a constant small expansion of the money supply was the only wise policy.

Walter Edward Block (born 21 August 1941) is an Austrian School of economics economist and anarcho-capitalist.

Block was born in Brooklyn, New York to Abraham Block, a certified public accountant, and Ruth Block, a paralegal, both of whom Block has said were liberals. He earned his undergraduate degree in Philosophy summa cum laude from Brooklyn College, where he was a member of the varsity swimming team. Block earned his Ph.D. degree in economics from Columbia University and wrote his dissertation on rent control.^{[citation needed]} Block, who is of Jewish background, self-identifies as a "devout atheist".

Block's early thinking life was characterized by egalitarian thought. In an interview by the Austrian Economics Newsletter, Block stated, "In the fifties and sixties, I was just another commie living in Brooklyn." Block credits his "conversion" to Libertarianism to personal meetings with Ayn Rand while he was an undergraduate student. Alan Greenspan was in attendance at some of these meetings. As Block describes it, "In 1963, when I was a senior at Brooklyn College, Ayn Rand came there to give a lecture. I attended, along with about 3,000 of my fellow mainly leftish students, in order to boo and hiss her, since she was evil incarnate. Afterward, the president of the group that had invited her to campus announced there was to be a luncheon in her honor, and anyone was welcome to take part, whether or not they agreed with her ideas. Not having had enough booing and hissing at Ayn in her formal lecture, I decided to avail myself of this opportunity to further express my displeasure with her and her views."