3 ms·
> looks like the invisible hand of markets is not working here Holy crap - Fan or no fan, the "invisible hand" isn't a factor in that environment. Healthcare i
by aksss 4y ago
> looks like the invisible hand of markets is not working here
Holy crap - Fan or no fan, the "invisible hand" isn't a factor in that environment. Healthcare is highly regulated, the market for drugs (for instance) highly rigged by federal reimbursement commitments, the third-party payer system obscures all costs from the consumer rendering them incapable of making informed choices. If you wanted the market to sort out health care, you'd need to get rid of state-level 'certificates of need' to introduce competition on the supply-side, actually achieve price transparency for consumers to avoid price fixing, and massively overhaul medicate part D to bring costs for drugs down. This is in addition to allowing insurance markets to cross state lines.
Total facepalm when I hear people say, "look at healthcare - guess the free market doesn't work". Nobody needs to argue that it should be a total free and open market devoid of regulation - that's a dumb retort, but to not understand how regulation has served to facilitate self-dealing, instituted market barriers, and create a money-go-round, is equally as daft.