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it's obvious that many medical supplies have an inelastic demand so are easily manipulated. When the market fails governments need to step in.
by hourago 4y ago
it's obvious that many medical supplies have an inelastic demand so are easily manipulated. When the market fails governments need to step in.
- lsldjdndk 4y ago
- toomuchtodo 4y agoAbsolutely. https://mattstoller.substack.com/p/buckraking-did-a-medical-monopolist https://mattstoller.substack.com/p/buckraking-did-a-medical-... https://www.accessdata.fda.gov/scripts/drugshortages/default.cfm https://www.accessdata.fda.gov/scripts/drugshortages/default...
- magila 4y agoHealthcare is the most heavily regulated industry in the US. Many of those regulations were written specifically to minimize or eliminate the influence of market forces. You can't reasonably say the market has failed when it has been so tightly constrained by regulation.
- workingon 4y agoHow is healthcare in the countries with very little health care regulations?
- s1artibartfast 4y agoCheap!
- hourago 4y agoDeadly!
- infamouscow 4y agoCitation?
- dmitriid 4y agoHorse named Jim: https://en.wikipedia.org/wiki/Jim_(horse) https://en.wikipedia.org/wiki/Jim_(horse)
- s1artibartfast 4y agoPerhaps is some instances. But there are greatly diminishing returns on cost and regulations in terms of life expectancy. A lot of basic care can go a long way for a low cost with no regulation
- 650REDHAIR 4y agoRegulation that was lobbied into reality by… who?
- clarkmoody 4y agoCronyism is the opposite of a free market.
- colinmhayes 4y agoOf course you can. Regulation is one of the most common market failures.
- jollybean 4y agoInsulin is relatively cheap and available in all other civilized nations. Somehow they've figured it out. I can provide no insight as to 'how' but I suggest some reasonable regulation has something to do with it.