Author Topic: What's Really Wrong with the Healthcare Industry  (Read 2056 times)

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What's Really Wrong with the Healthcare Industry
« on: January 24, 2016, 08:00:55 AM »
I thought I make this thread, seeing how some of us were discussing the US health care system in the Rick Ross-Steven Hassan thread.

Here is an article by the Mises institute that shines some light on the high costs concerning health care.
It also tries to explain why America is seeing even higher costs than European countries.

"In giving the talk to the class of public-health students, my aim was to disabuse them of the widely held belief that America's healthcare system is an example of a free-market failure and that a free market in healthcare compares poorly to that of government-provided, universal care. In fact, the US healthcare system has endured substantial government intervention — albeit intervention of a different variety than that of Europe or Canada. And the areas in which the government has intervened in the market have seen substantial increases to costs for consumers.

None of the causes of higher prices identified in this essay are adequately addressed by the recently passed healthcare legislation. Indeed, the problem of high costs will be further exacerbated by extending insurance to cover more people and more procedures while also reducing deductibles.

The only solution to increasing costs is to eliminate government interference in the market and to allow the price mechanism to work as it should. Consumers who pay out of their own pocket will search for the cheapest solutions to suit their needs, while providers of healthcare will compete, through constant innovation, to drive prices down and discover the most efficacious treatments.22"

Weston Dupree

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Re: What's Really Wrong with the Healthcare Industry
« Reply #1 on: January 24, 2016, 12:56:37 PM »
Good article. It sums everything up.

Healthcare used to be really cheap back in the 1950s. This problem where people need health care and can't afford it is a relatively new problem. It's important not to blame capitalism for problems that government interventions create.