A more equitable, functional system
So, I thought of typical ways that socialist/communist countries ensure that prices are 'fair'. They typically use price controls. The problem with that is that it typically isn't flexible enough to reflect the dynamic costs involved in business, and often not realistic enough to allow for profit, so shortages usually occur.
The problem with pure capitalism is that in sectors/areas where "perfect competition" doesn't really exist (I.e., lack of 'real' competition, like hospitals in not-so-large towns. Or, the market has strong positive network affects, like operating systems.), the profit takers often extort as much as they can get away with, imposing an undue burden on their buyers. In healthcare markets, this undue burden can and often does materialize as a lack of adequate treatment/death.
I think a more equitable system is not price controls, nor pure price freedom, but materializes in the form of profit controls. I don't think profit controls should exist in every sector (In particular, innovative products/services shouldn't be subject to profit controls, at least not for a while. It's not a wise idea to dis-incentivize innovation. In fact, by controlling profits in major 'necessary'/'critical' commodities, you might end up boosting the flow of funds to innovative areas, amplifying the overall longterm economy.), but for standard commodities necessary for living and 'life or death' markets like healthcare, hell fucking yeah. By not eliminating the profit incentive, you preserve the incentive to produce/supply markets, but by controlling profit taking, you reduce the inequities built therein.
The problem with pure capitalism is that in sectors/areas where "perfect competition" doesn't really exist (I.e., lack of 'real' competition, like hospitals in not-so-large towns. Or, the market has strong positive network affects, like operating systems.), the profit takers often extort as much as they can get away with, imposing an undue burden on their buyers. In healthcare markets, this undue burden can and often does materialize as a lack of adequate treatment/death.
I think a more equitable system is not price controls, nor pure price freedom, but materializes in the form of profit controls. I don't think profit controls should exist in every sector (In particular, innovative products/services shouldn't be subject to profit controls, at least not for a while. It's not a wise idea to dis-incentivize innovation. In fact, by controlling profits in major 'necessary'/'critical' commodities, you might end up boosting the flow of funds to innovative areas, amplifying the overall longterm economy.), but for standard commodities necessary for living and 'life or death' markets like healthcare, hell fucking yeah. By not eliminating the profit incentive, you preserve the incentive to produce/supply markets, but by controlling profit taking, you reduce the inequities built therein.