4 ms·
IANA economist, but as I see it, the problem is that healthcare is mostly a captive market, i.e. not having it when you need it is not an option. With such an i
by gordaco 13y ago
IANA economist, but as I see it, the problem is that healthcare is mostly a captive market, i.e. not having it when you need it is not an option. With such an inelastic demand and relatively high entry barriers for providers (making competition scarce), it's expected that prices skyrocket. So socialized healthcare is a big win for the people and a big loss for the moneymakers.
Living in another country with socialized helathcare, each time the situation in the USA is described, I'm really glad I don't live there.
- k-mcgrady 13y agoAnother issue is the lack of information. Most consumers in the healthcare industry rely on others (doctors, hospitals, pharmacists) to tell them what they need and the people giving advice having conflicting motives (helping the patient, making money).
- visarga 13y agoSimply put, you don't make a business from treating sickness. When people are sick, they are least able to pay. Also, when one is sick, there is no incentive to insure him/her because it doesn't generate profit.