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To: Alan Chapman
8 years ago a 1GB hard drive cost $1000. Yesterday I bought an 80GB hard drive for $100. The computer industry is almost entirely unregulated. Your implication that advancements in technology account for increases in cost is misleading and incorrect.

I didn't say technology accounted for all rises in cost. Only some. Government accounts for much. But medical care is extremely labor intensive. There is no comparison between what it costs to run a trauma center and making disk drives. In addition, costs have risen because more products are in demand and being sold. My grandfather probably could have used some Lipitor and a heart by-pass. They weren't around. He died. Medical care didn't consume as much of GDP then as now because people went without that which was not available.

30 posted on 05/02/2002 3:10:41 PM PDT by LarryLied
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To: LarryLied
I didn't say technology accounted for all rises in cost. Only some.

I didn't accuse you of saying technology accounts for all rises in costs. It accounts for so little a rise that it's insignificant.

...medical care is extremely labor intensive.

If there is a profit to be made somebody will meet the demand despite the cost and labor involved.

...costs have risen because more products are in demand and being sold.

Price increases result when there is insufficient product to meet demand. Only government has the power to stifle innovation and keep drugs and procedures off the market. Without interference from government there is nothing stopping people from selling products and services. The most blatant example is government prosecuting and imprisoning people who smoke marijuana for pain relief. While these people could use marijuana to relieve pain for a few bucks per month they must instead purchase drugs costing hundreds of dollars.

32 posted on 05/02/2002 3:31:17 PM PDT by Alan Chapman
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