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Hanoch's avatar

I am curious as to whether any nation has something close to a real free market for health care services and, if so, how it compares to others. There are so many things about the U.S. healthcare system that strike me as utterly bizarre, e.g., the lack of price transparency, the lack of competition on price, the expectation that an “insurer” -- I thought insurance was generally for unpredictable and potentially catastrophic events -- will pay for my doctor visit and medicine, etc. I understand that medical treatment can sometimes be critical for life, but so is food and shelter, and competitive markets seem to work pretty well in those areas.

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Kevin Dick's avatar

On health care, I apologize if someone has already pointed you to this, but if not, you should read Random Critical Analysis.

https://randomcriticalanalysis.com/why-conventional-wisdom-on-health-care-is-wrong-a-primer/

As far as I can tell, s/he applies more data on this question than anyone. And the conclusion is that Americans spend pretty much exactly what you would expect on health care given how much they spend on everything else. That means the question of how the system is structured is second-order with regards to this particular issue.

The key takeaway is that people's spending behavior on health care looks like their spending behavior on other goods. Policy that treats it as if it's categorically different, may be a mistake.

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