Socialized healthcare is a misnomer; universal healthcare though is a globally accepted phenomenon that provides healthcare services to the citizens of a country. This is a system where healthcare expenses of a person are the complete responsibility of the governments or partially through public-private partnership systems. This means that any citizen can derive healthcare benefits from hospitals that are run by government or are stipulated by the government. Thus when a person joins the universal healthcare system he or she is able to derive health services. This kind of system has been used in developed countries around the world, especially in Europe.
United States has been for many years the only developed country in the world that did not have universal medical coverage for its people. During his presidential election campaign, President Obama promised and to some extent fulfilled his promise of health coverage. The conservatives and proponents of capitalism see this as socialization of healthcare, a leftist policy that would increase public spending in an area where the role of the government was minimum at best. Amy Finkelstein on one hand believes that economically healthcare, first in the case of Medicare for the elderly has led to increase in the cost of health, with more people using the services than before; however she is of the opinion that the benefits are not evident as the mortality rate of the elderly has not declined. At the same time she believes that it has led to technological advancement she observes:
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