Mainstream Politics and Economics Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Politics : Mainstream Politics and Economics

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: Bearcatbob who wrote (646)	9/3/2011 8:35:13 AM
From: KyrosL	Read Replies (4) of 85487

I am all for tort reform. But it's not the key to the problem. Texas reformed health tort but did not save much. The key to the problem is that the free market does not work for health care. There are two sides to the free market. Providers try to maximize profits, consumers compare and select among providers. The first part works beautifully, the second fails miserably. What consumer has the expertise to go against his doctor's recommendation? Deciding about open heart surgery sure is not the same as deciding which gas station to patronize or which toothpaste to buy. So, almost everybody follows his doctor's recommendations, which means that the providers are also doing the comparison (ha ha) and selection for the consumers. Such a system is called a natural monopoly. America has many more bypasses, cesarean sections, and the latest and most expensive drugs compared to other advanced countries, and little to show for it. It provides scant per-natal care but spends hundreds of thousands saving a single low birth weight or crack baby (paid for by Medicaid).

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next