Arnold Kling talked about his book Crisis of Abundance: Rethinking How We Pay for Health Care, published by the Cato Institute. He said that the fundamental challenge in American health care today is that there are many highly trained specialists and advanced technologies but we do not know when their use is appropriate or how we should pay for them. He argued that markets could do a better job of allocating these resources, and he advocated cutting government health care budgets by two-thirds and reducing third-party payment as a way to encourage better medical decisions. He was joined in a discussion moderated by Mr. Cannon. The panelists responded to questions from members of the audience.