Comments by "" (@jmitterii2) on "Donald Trump WantsTo Give Everyone HealthCare?" video.

  1. Competitive market principles only work in the following sectors and rules of markets: 1) All firms sell an identical product; - With patent protections; they're not. Remove patent protections. 2) All firms are price takers - they cannot control the market price of their product; -Pharma, Hospitals, Clinics, are price makers due to patent protection, inelastic demand curve (people will pay any price to avoid pain or death when sick or injured). 3) All firms have a relatively small market share; -Pharma and hospitals especially have huge market share per organization due the economy of scale required to enter medical markets. 4) Buyers have complete information about the product being sold and the prices charged by each firm; and -Medical industry requires collusion to come up with better medicines, applications, and procedures. -The nature of medical services require that often the patient doesn't have time to dither about what hospital to go to during emergencies. 5) The industry is characterized by freedom of entry and exit. Perfect competition is sometimes referred to as "pure competition". -Medical sector for clinics and hospitals have huge economies of scale, it takes lots of money to startup and keep a hospital running. The medical sector violates every competitive market principle. And in some cases, they're artificially created violations like medical patents causing artificial monopolies of producers for long periods of time. And in most cases, it's the nature of the medical industry: requires huge economies of scale (lots of money) to start up and run the various organizations for a competitive environment, consumers don't have any fair knowledge of prices compared to other hospitals, clinics, or operations, hence why they dither on your bill after services are rendered for all the "just in case we had to do more work when looked inside your body". And you simply can't dither on pricing during emergencies. And collectively, the entire medical sector has a very inelastic demand curve: the price changes do not effect a persons willingness to get or not get a life saving services; they'll pay any price when in pain or to keep from dying. Then you have huge externalities-- people miss work more because they're not getting treated early, instead waiting for the condition to become worse; or they're too broke to get the required treatment. A hospital ER doesn't have to treat the illness, they only need to stabilize for instance: abscessed tooth is an infection of the tooth treated by pulling the tooth or root canal procedure; the ER will not do those procedures, instead they will give antibiotics to stabilize the situation, and recommend you go see a dentist. The actual problem persists. Police, fire departments, airports, seaports, roads, libraries, parks, criminal and civil courts, housing and development, public utilities from electric, water, sewer, trash, etc. are all various violations of competitive market principles. It's why they're in general they're a collectively arranged single payer for each city either directly or indirectly operated by the government. They don't work under competitive market principles as those sectors violate the competitive market sectors; they'll never be competitive, and you'll always come up with worse results (higher prices, worse quality) than collective market operations.
    1