2 ms·
Nice article. But the reason certain things will not reduce in price is because of regulations, in other words "How the system is set up". E.g. even though the
by nine_zeros 3y ago
Nice article. But the reason certain things will not reduce in price is because of regulations, in other words "How the system is set up".
E.g. even though there is an abundance of medical drugs, the costs are high for Americans because of the way regulations are set up. A generic of the same drug made in India would have a dirt cheap cost.
Large scale manufacturing of things had to be allowed. This means, no using of laws to prevent mass production of doctors, mass production of nurses, mass production of drugs, mass production of insurance companies, mass production of multiple units of housing, mass production of educational facilities.
It is competition that reduces prices, not just innovation.