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Healthcare pricing is regulated and effectively fixed in all modern economies except for the US. The same goes for rent controls which are ubiquitous in most o
by jollybean 5y ago
Healthcare pricing is regulated and effectively fixed in all modern economies except for the US.
The same goes for rent controls which are ubiquitous in most of Canada and Europe.
And where is the 'black market' for these vast economies?
These ridiculous references to 'communism' are an intellectual canard.
There is no such thing as a 'free market' - a market is a dynamic equilibrium of the balance of power. This becomes a problem when power is asymetrical, i.e. in monopoly, or monopoly-like situations such as 'sole provider of a drug' in which case there is always regulation.
If the 'free market' were fully effective, Phizer would be selling vaccines at Wallgreens instead of via the US Gov.. But it's not, and so we're not, because it wouldn't work as the 'profit maximizing' price point for the vaccine is way above what most people would be willing to pay.
- nickpp 5y ago> references to 'communism' are an intellectual canard For me, they are references to actual events in my past. Unable to provide the bare necessities, in the 80's, the Communist State's central planners had rationed bread, sugar, flour and vegetable oil. A black market has promptly sprung up. Its vendors ranged from regular folks who did not use their entire ration to illegal "entrepreneurs" who had other means of getting stuff. This market could easily tell you the actual price of these goods. But you had to be careful because some of the participants where actual Secret Service laying traps. It was illegal after all...