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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory

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To: GST who wrote (52301)	2/1/2006 4:28:50 PM
From: Gemlaoshi	Read Replies (1) of 110194

Health insurance in the US is a national disgrace The demand for healthcare is not a static social need. The demand curve is said to be a "kinked" demand curve. At some level (e.g. trauma care from an auto accident), demand is very inelastic and price is relatively unimportant. However, if price is hidden from the consumer (via insurance, or government subsidy) demand is much more elastic even though marginal utility falls as demand increases. The demand curve also shifts to the right as medical technology (e.g. MRIs, hip replacements, etc.) also cause demand to increase. My point is: someone/something will always control access to healthcare and ration limited medical resources. It can be price, it can be some insurance or government bureaucrat, or some combination thereof. The issue then becomes, what is the most cost effective fair and ethical way to control access to healthcare. Who do you want to control your access to your doctor, hospital, certain drugs? www.owlnet.rice.edu/~econ481/lectures/lecture3.06.ppt Dave

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