There used to be a popular meme claiming that anything private tends to get cheaper over time, while anything regulated or run by the government keeps getting m

There used to be a popular meme claiming that anything private tends to get cheaper over time, while anything regulated or run by the government keeps getting more expensive. But is that really true for all goods? If it is, then why do so many countries choose to adopt universal healthcare systems with tightly regulated insurance? Maybe the more relevant question is: why is healthcare so expensive in the United States? It can’t just be because the U.S. is more advanced or developed. After all, one of the hallmarks of an advanced country should be making essential services affordable, if not cheaper.