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Profit and loss incentives make it so that if you are competent you get clients and you keep going, if you aren't you lose money and fail. With central banking

by toldyouso2022 3y ago

Profit and loss incentives make it so that if you are competent you get clients and you keep going, if you aren't you lose money and fail. With central banking we have destroyed this system and in the case of medicine not only there is a lot of central banking interference but here is also a guild system that limits the supply of doctors, so bad doctors don't fail and with time you get more and more bad Doctors. Things will only get worse

jMyles 3y ago
Absolutely. Nowhere is the perversion of incentives more clear than in places where we hope people will act from their heart and their genuine concern, because they are out-competed by the economic forces of easy, cheap, fast money. This phenomenon is also visible with regard to single-use plastics, as much a stretch as that may seem: why buy things that can be re-used indefinitely, and passed on to next generations, when money is such a hot potato? Better (rationally) to trade money for cheap plastic things from the other side of the world.
cjbgkagh 3y ago
Doctors being bad at their jobs predates central banking, take the long held obsession with blood letting as just one example. Fixing finance will not fix doctors. If doctors want people to listen to them they need people to believe they’re very smart, and getting pulled into the mire of the specifics of people’s conditions would just result with both the patient and doctor finding out they don’t know enough and that’s bad for business.
spencerchubb 3y ago
I'm not sure what central banking has to do with profit incentives. Profit incentives exist even in, for example, bitcoin
- toldyouso2022 3y ago
  Fair question. The profit incentive in this case is not meant as a psychological incentive, but a purely economic one. If I make money doing something, I can keep doing it. If I don't, I lose money and so I can't. It's a natural selection mechanism that will always happen. We broke it (aka we don't like it) because we moved from the consumer choosing who profits to central banks. So, doctors that are not liked by the consumer don't disappear as fast as they should. They also don't land where they could do good because we leave everything to arbitrary judgements of well meaning bureaucrats instead of the choices of people that have to be served. No system is perfect but we are missing something important in healthcare and I think this is the main culprit.

jMyles 3y ago

Absolutely. Nowhere is the perversion of incentives more clear than in places where we hope people will act from their heart and their genuine concern, because they are out-competed by the economic forces of easy, cheap, fast money. This phenomenon is also visible with regard to single-use plastics, as much a stretch as that may seem: why buy things that can be re-used indefinitely, and passed on to next generations, when money is such a hot potato? Better (rationally) to trade money for cheap plastic things from the other side of the world.

cjbgkagh 3y ago

Doctors being bad at their jobs predates central banking, take the long held obsession with blood letting as just one example. Fixing finance will not fix doctors. If doctors want people to listen to them they need people to believe they’re very smart, and getting pulled into the mire of the specifics of people’s conditions would just result with both the patient and doctor finding out they don’t know enough and that’s bad for business.

spencerchubb 3y ago

I'm not sure what central banking has to do with profit incentives. Profit incentives exist even in, for example, bitcoin

toldyouso2022 3y ago
Fair question. The profit incentive in this case is not meant as a psychological incentive, but a purely economic one. If I make money doing something, I can keep doing it. If I don't, I lose money and so I can't. It's a natural selection mechanism that will always happen. We broke it (aka we don't like it) because we moved from the consumer choosing who profits to central banks. So, doctors that are not liked by the consumer don't disappear as fast as they should. They also don't land where they could do good because we leave everything to arbitrary judgements of well meaning bureaucrats instead of the choices of people that have to be served. No system is perfect but we are missing something important in healthcare and I think this is the main culprit.