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> but healthcare is in the business of health and there's no substitute for that There's plenty of substitutes, and there are plenty of things that have little
by conanbatt 8y ago
> but healthcare is in the business of health and there's no substitute for that
There's plenty of substitutes, and there are plenty of things that have little to no substitutes and don't have these issues (food, clothing..housing does have some of the same issues).
Healthcare is a mess because it is the most regulated market there is.
- luckydata 8y agoI don't think you understand what I said.
- conanbatt 8y agoCorrect me if I'm wrong: luckydata: there is no substitute to healthcare services, so whatever you need in healthcare, whoever provides service has absolute leverage to charge whatever they want. response: there are plenty of substitute effects in healthcare as you can deny getting treatment, or choose cheaper treatments. Moreover, even if you had no substitute effect possible, there are also other examples of markets with "no substitute effects" like food or clothing, but there is no gouging. It is a characteristic of the market but on itself is does not guarantee gouging unless other conditions are met, most typically mononopolies, and most typically gov. granted ones.