It’s a pity he hasn’t spent his life analyzing why health care is so expensive in the US compared to other countries. An economic model to reduce costs would be very useful.
“It’s a pity he hasn’t spent his life analyzing why health care is so expensive in the US compared to other countries.”
The short answer is regulation. Start with the FDA, the way it works is Company A has a test regimen. It’s theirs alone and they lobby Congress to get their regimen included in any drug certification. Now, a drug company must come to them as the sole provider. (Attach price tag to rocket.) Several years ago the cost to certify one drug was in the billions.
Now, why are drugs so cheap in other countries, regulation. Pfizer creates Damitol. The FDA approves it, but we have treaties with other countries who control their prices. Pfizer makes allotments of Damitol at a lower than cost price and sends them to pharmacies in, say, Canada. The Canadian government sets the price to Canadians at, say, $1/pill. But the internet price from Canada is, say, $5/pill, well under the US pharmacy price of, say, $10/pill. The Canadian pharmacies sell a small quantity to Canadians, but the bulk of the drug goes at high profit to American’s buying over the internet.
This is just one example. When you dig into the knot it gets bigger and bigger. Nobody has a sword sharp enough or long enough to cut through.
Commies can’t objectively analyze why US healthcare was previously so expensive, to do so would show government intervention is a cost driver and that would undermine the meme that capitalism is bad and only the government has solutions to social issues.