4 ms·
I know it's all more complicated than this, but why can't we start with mandating by law maximum prices for things like medication and operations? We all know t
by willio58 8y ago
I know it's all more complicated than this, but why can't we start with mandating by law maximum prices for things like medication and operations? We all know that these things can be wayyy overpriced compared to other countries, why can't we have a neutral body in charge of setting and keeping prices up to date? If a company decides to not provide medications or operations at that set price, could you not just have companies bid for a price?
- pwned1 8y agoBecause price controls lead to shortages. Econ 101.
- wahern 8y agoFree markets can lead to shortages, if by shortage you mean quantity of some good or service available at a particular price that is less than what is socially (normatively) desirable. Japan implements complex price controls on healthcare and many would argue they provide much better healthcare. But many would argue otherwise. Between those viewpoints lie the reasons why a price control strategy might not work well in the U.S.