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Reply to "A new project for Alan"

edsnova posted:

The free market works great for a lot of things, including Pre-A Porsches. A willing seller, a willing buyer, the price set by the buyer's desire and ability to pay the seller's price, and no need (in this case no ability) for anyone to be able to "make one for less." 

It works well because nobody needs a Pre-A Porsche.

With insulin, we have a different situation

If the "free market" results in a concentration of power on the maker's side (monopoly), the owners can set whatever price they like. Pay it or die.

The "willing buyer" part of the equation goes away. A diabetic cannot wait months or years for some clever Indonesian start-up to fab a factory and begin producing cheap insulin pumps, then arrange a Bitcoin-based gray market distribution system for the US.

It's like this with a lot of medicine and medical care, which is why civilized countries instituted universal medical insurance systems (heavily regulated if not government controlled) decades ago. Every nation which has one—Canada and the UK very much included—has much better health outcomes than we enjoy in the US, and very little (if any) political controversy about it. 

I've long been mystified by the inability of market fundamentalists to understand the basics of an asymmetric market.

 

Market fundamentalists understand that there are few to no asymmetric markets, especially in the connected world we now live in.  What socialists fail to address is that it is wrong to steal, especially by a mob, (vote).  Your insulin example is a perfect example of market forces.  Instead of only reading that which fits your paradigm, google, "cheapest insulin price".  Read about the wait times for specialized treatment in Canada.  Read about treatments that are refused to elderly people in Canada.  People may think they are gaining some type of security with government health care, (the more accurate term for universal medical insurance), but in truth, it is just one more loss of liberty.

Last edited by Todd M
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