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The health care market is about as far from a free market as you can get. Tons of heavy regulation everywhere limiting supplies of doctors, nurses, ability for
by onphonenow 5y ago
The health care market is about as far from a free market as you can get.
Tons of heavy regulation everywhere limiting supplies of doctors, nurses, ability for folks to see pricing info, for pricing info to matter etc. Consumer of the service often is not the one paying. So you can do crazy stuff like make an insurance co pay $10,000 per pill for something that overseas no one would ever pay that because they'd be paying themselves.
I've been in third world countries, cash pay places, no insurance, no govt stuff. You can call and ask how much something will cost, they tell you, you go, pay and done.
My bills in California have like 10 pages of notices and warnings on them for each charge. So it's a 5 page document per copay. Its crazy.
- awakeasleep 5y agoThe problem is that adam smith meant “free from economic rents” when he used the phrase “free market” but now it means “free to charge economic rent”. Makes it hard to discuss because people use the same phrase to mean completely opposite things.
- onphonenow 5y agoGreat point! Yeah, the rent seeking in medicine is insane. Just residency slots are so hard to get these days.