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Wages do increase, but then it's all spent on housing. And lately, also spent on healthcare.
by acchow 3y ago
Wages do increase, but then it's all spent on housing. And lately, also spent on healthcare.
- WalterBright 3y agoThe incredible cost increases for healthcare started in 1968 with government interference in it. The more interference, the more it costs. The same effect happens with every industry the government massively interferes with. For example, education, and real estate. Look what happens in industries that experience very low levels of government interference, like software. Costs trend to zero.
- acchow 3y agoThis demonstrates that the government will intervene in industries that have too much pricing power, right? Since the people demand help from their political representatives?
- WalterBright 3y agoOr that government interference: 1. is costly 2. encumbers competition which increases pricing power In any case, if the government is intervening to reduce pricing power, it clearly is failing spectacularly at that. Weirdly, the government accused Microsoft of having a monopoly because it gave Explorer away for free. How is that pricing power?