2 ms·
Why wouldn't a free market collude and monopolize to maximize profit? Idealized free markets require perfect information. Most consumers of healthcare are woefu
by Klinky 4y ago
Why wouldn't a free market collude and monopolize to maximize profit? Idealized free markets require perfect information. Most consumers of healthcare are woefully ill informed on healthcare matters. The problem with free markets is summed up with phrases like: "caveat emptor", "a fool & his money are easily parted", "there's a sucker born every minute", "penny wise, pound foolish".
Discount laser eye surgery has its own issues with deceptive advertising, misleading pricing, patients being rushed & not fully informed of potential side effects or receiving poor post-op care. People really need to research thoroughly before using a coupon for their laser eye surgery. No one should expect the market to just provide a quality product. That's foolish thinking.
- refurb 4y agoThe free market doesn’t collide when there is competition. Just like oil cartels, they barely hold together because the first person to leave the cartel makes way more money undercutting everyone else. And many of those issues of rushing patients and not explaining risks happens in public systems too. You think doctors work for free in those systems? And in terms of quality you’d be a fool to not check even in a public system. I worked in the healthcare field and quality of doctors varies widely.
- Klinky 4y agoOPEC holds huge power over global oil markets, and is not "barely held together". Com'on. Competition colluding or conglomerating is not uncommon. Much of brand competition is actually various arms of the same parent company. The illusion of competition. My point was the free market you lauded for Lasik is a mixed bag with some potentially good value for money, but also deceptive salesmen muddying the waters for consumers to make valid comparisons on price & quality. It's no panacea.