4 ms·

Economics 101: Price controls create shortages. Note that I’m not defending the broken U.S. system, but attempting to fix it with price controls will exacerbat

by gbacon 7y ago

Economics 101: Price controls create shortages. Note that I’m not defending the broken U.S. system, but attempting to fix it with price controls will exacerbate its problems.

Jotra7 7y ago
Tell that to every other country that has socialized medicine that has cheaper services with better outcomes. The casualness with which you declare its Economics 101 shows how ignorant and brainwashed Americans are.
2trill2spill 7y ago
Sure, but US hospitals are also known to charge up to 1000% more then a procedure actually costs[1]. That should be illegal. [1]: https://www.washingtonpost.com/national/health-science/why-some-hospitals-can-get-away-with-price-gouging-patients-study-finds/2015/06/08/b7f5118c-0aeb-11e5-9e39-0db921c47b93_story.html?utm_term=.27ff0b2e8c0e https://www.washingtonpost.com/national/health-science/why-s...
- conanbatt 7y ago
  Software charges 1000000000% its costs, maybe it should be made illegal as well.
  - 2trill2spill 7y ago
    I highly doubt that any company charges that much of a premium for software, you have any sources or examples?
    - conanbatt 7y ago
      Take any digital book sale from amazon.
      - 2trill2spill 7y ago
        Seriously, book publishing is your example? You know writing, editing and publishing a book takes a lot of time and skill. Also the majority of book authors are not making out like bandits on books sales, even digital ones. Book Authors and Publishers are not making 1000000000% on digital book sales, otherwise we would probably see Goldman Sachs in the book publishing/writing business.
        mises 7y ago
        You're correct, but that is all fixed cost. The marginal cost of an e-book is essentially zero. In the short run, a publisher can keep selling an e-book at almost any price.
        conanbatt 7y ago
        You made my case for me.
TazeTSchnitzel 7y ago
Healthcare is not your typical market.
- conanbatt 7y ago
  In the US is not a free market, which is more important than its typicity.
  - TazeTSchnitzel 7y ago
    A free market for healthcare behaves even worse than a regulated one in terms of actual benefit to society.
    - conanbatt 7y ago
      What makes you think that?
deleted 7y ago
[deleted]

by gbacon 7y ago

Economics 101: Price controls create shortages. Note that I’m not defending the broken U.S. system, but attempting to fix it with price controls will exacerbate its problems.

Jotra7 7y ago

Tell that to every other country that has socialized medicine that has cheaper services with better outcomes. The casualness with which you declare its Economics 101 shows how ignorant and brainwashed Americans are.

2trill2spill 7y ago

Sure, but US hospitals are also known to charge up to 1000% more then a procedure actually costs[1]. That should be illegal. [1]: https://www.washingtonpost.com/national/health-science/why-some-hospitals-can-get-away-with-price-gouging-patients-study-finds/2015/06/08/b7f5118c-0aeb-11e5-9e39-0db921c47b93_story.html?utm_term=.27ff0b2e8c0e https://www.washingtonpost.com/national/health-science/why-s...

conanbatt 7y ago
Software charges 1000000000% its costs, maybe it should be made illegal as well.
- 2trill2spill 7y ago
  I highly doubt that any company charges that much of a premium for software, you have any sources or examples?
  - conanbatt 7y ago
    Take any digital book sale from amazon.
    - 2trill2spill 7y ago
      Seriously, book publishing is your example? You know writing, editing and publishing a book takes a lot of time and skill. Also the majority of book authors are not making out like bandits on books sales, even digital ones. Book Authors and Publishers are not making 1000000000% on digital book sales, otherwise we would probably see Goldman Sachs in the book publishing/writing business.
      - mises 7y ago
        You're correct, but that is all fixed cost. The marginal cost of an e-book is essentially zero. In the short run, a publisher can keep selling an e-book at almost any price.
      - conanbatt 7y ago
        You made my case for me.

TazeTSchnitzel 7y ago

Healthcare is not your typical market.

conanbatt 7y ago
In the US is not a free market, which is more important than its typicity.
- TazeTSchnitzel 7y ago
  A free market for healthcare behaves even worse than a regulated one in terms of actual benefit to society.
  - conanbatt 7y ago
    What makes you think that?

deleted 7y ago

[deleted]