Why “the market” does not (and cannot) solve health care problems – UPDATED!!!

Another example:

LA’s Good Samaritan Hospital marks up the price of a lorazepam pill by 14,000%

From the post: “Jerry Flanagan, staff attorney with the Santa Monica advocacy group Consumer Watchdog, says this common practice is ‘straight-up profiteering’“.

“Free market” advocates love to advance their ideology as a solution for everything. This is a clear example that, at least as far as health goes, that is certainly not the case.

Compare health expenditure and health indicators of the European countries which have some form of other of “socialized” healthcare, and the corresponding data from the US and this becomes crystalline clear.

And, in closing, if that’s the “good samaritan”, I don’t want to know about the evil one.

UPDATE [June 8th]: Wendell Potter says the same thing, with the same  words, but better: Free Market Ideology Doesn’t Work For Health Care. “One of the other reasons we tolerate unreasonably high health care costs is gullibility’s close and symbiotic relative: blind adherence to ideology. By this I mean the belief that the free market — the invisible hand Adam Smith wrote about more than two centuries ago and that many Americans hold as a nonnegotiable tenet of faith — can work as well in health care as it can in other sectors of the economy. While the free market is alive and well in the world’s other developed countries, leaders in every one of them, including conservatives, decided years ago that health care is different, that letting the unfettered invisible hand work its magic in health care not only doesn’t create the unintended social benefits Smith wrote about, it all too often creates unintended, seemingly intractable, social problems“.

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