Comments by "" (@jmitterii2) on "Nancy Pelosi Forgets What's In Democrats' "Better Deal"" video.

  1. If they care about competition so much, prohibit medical patent protections so that once a medical appliance or drug is invented it is available to all producers to produce and compete. And when certain medicines don't have economies of scale because only a very small customer base exists, government can step in to compete to produce such items to keep costs down. Allow imports from other countries. Frankly, pharma and hospital violate many competitive market principles. In particular, the have inelastic demand curve, meaning price doesn't influence quantity demanded. So pharma can charge as high price, and their stuff will still sell. Because the consequence to the consumer is further pain, advancing illness, and/or death. They'll pay any price to get relief. Despite the number of suppliers, the suppliers will be influenced to the fact they can sell at a premium due to the nature of their inelastic demand product of buy or suffer and or die. That's why let it be markets (often referred to as free markets), don't work well. Many markets are at odds with competitive markets. And collective means become better at keeping prices down, and ensuring quality. Its why let it be markets throughout history as far back as France, UK, Germany, Italy, Russia, and several times in the US have failed, and require rule setting. Some failures of let it be markets have caused famine, disease, war, civil war, repressive regimes, terrors (killing of people who appear or are political opposition), and genocide. For profit motive only works well in competitive markets when all principles of competitive markets are functioning. And some sectors, you cannot make them achieve competitive principles in an efficient manner, the results become worse than a collective system in those markets that violate severely and/or many competitive principles. It's why fire departments, police, judiciary, prisons, utilities like water, electricity, roads, ports, schools, parks, etc. are generally always collectively owned and operated. Those sectors violate many competitive market principles to the point forcing them to be in a market results in worse quality, higher prices, less supply, and less ability to demand supply. Where as collective methods for the same allow for higher quality, lower prices as costs are lower, larger quantity supplied, and larger ability to demand supply. This is economics 101. Somehow economics has become perverted into something utterly irrational empirically. And ethically its become completely disgusting.
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