Health care market won’t self-correct 

I’m watching national television reporting this evening, on the health care debate; some say that the problem is the failure of the healthcare markets.

Really?

Most of my conservative friends think markets self-correct and are the answer to all health care problems. I have a degree in economics, and I understand how markets work. So, why aren’t health care markets self- correcting as most economists and republicans would predict?

The answer is that health care is not subject to market forces. There is unlimited demand for health care. When there is unlimited demand for a resource, prices will skyrocket.

The answer is the insurance crowd. They have lobbied — along with Big Pharma — to rip off the American consumer. We need a one-payer system, like 34 out of 35 developed countries. Let’s stop the long delay and get on with providing health care for all of us.

Jim Babbitt

Source: Health care market won’t self-correct | Letters | azdailysun.com