Invention depends on individuals, even if they work in teams, having new ideas and incentive to develop them.

Socialized medicine takes away incentive for innovators to advance medical research.

This is from Investor’s Business Daily:

There are many problems on the health care road the country is being forced to take. But one not getting as much attention as it should is the harm done to a critically important sector: medical innovation.

The high costs, restricted choices and eventual rationing that will result from the Democrats’ health care plan are being discussed to varying degrees by those who are uncomfortable with what’s being rushed through Congress. But the final legislation’s effect on medical innovation has been somewhat lost with so much attention focused elsewhere. So let us clarify:

The Democrats’ plan will slow innovation of pharmaceuticals and medical devices. …

If the profit motive is removed or weakened by legislation increasing Washington’s control of health care, drug companies and medical device makers will lose the incentive to bring lifesaving and life-enhancing products to market. For now, the rest of the world follows America because the socialist health care systems abroad discourage innovation. But the U.S. will fall back to the pack under a health care regime designed by the Democrats.