The Market is Not Magic

Apr 17, 2009 12:03


I've always found it weird how people will assert almost magical properties to the free market. It's nearly deified. The invisible hand of the market will lower costs, increase efficiency and make the world a better place!

Well, no, it won't. It's not even sentient. A business will do the profitable thing, not the right thing. Those two do not necessarily coincide. Sometimes, they do. But in many cases they don't. Healthcare is a prime example of this. The american healthcare system is the most expensive in the world by a wide a margin, yet it is by no means the best. Millions of americans don't even have insurance. Many file bankruptcy because of healthcare bills.

How sane is it to make a person suffer and die of a treatable condition? There are diseases that spread untreated because people cannot afford treatment. The fear of lawsuit causes massive amounts of unnecessary testing as the doctors try to protect themselves. This system is horribly, horribly broken and the fact that anyone can still defend it is staggering.

You can count me as someone who is happy to be in Canada, benefitting from universal healthcare. It's not a perfect system by any means, but it's a far sight better than what they have in the US.
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