THIS Is Why The Healthcare System Is A SCAM - Built To Fail (with Jeffrey Tucker)
In this video, I speak with Jeffrey Tucker about the horrific side-effects of government funded healthcare and how it actually causes inflation of the price of medications and treatments under the guise of making it more "affordable."
Because of the government funded healthcare system, competition is impossible due to the heavily subsidized pharmaceutical government monopolies. This cuts out competition and innovation in the markets which would usually lead to lower prices and new cures for diseases and treatments for disorders.
In a free market, healthcare would be incredibly affordable and far more effective. People would make more money and would be far healthier due to the fall of state monopolization.
We've seen nothing but disaster in the government run healthcare markets around the world, such as Canada, Venezuela and Britain.
Obamacare is horrible, but so is Trumpcare. Both only perpetuate the same problem.
While people on the left are rioting in the streets against "fascism", they chant about how we need government healthcare which is literally fascist.
How long until people understand the most basic market principles? So many claim it's greedy to let free markets (individual demand) aid the healthcare system while totally fair to extort people to jack up the prices and create government monopolies. The mentality is frighteningly similar to the Hegelian Dialectic and the priorities are not in order.
Jeffrey Tucker in this interview also goes into why he believes in freedom and how he defines individual liberty.
See the FULL video interview here:
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I respectfully disagree. In a single payer system prices for drugs go down, and prices for care go down. Innovation, breakthroughs, etc will not be affected, as many of the current medical innovations the US is responsible for is due to the NIH an arm of the government.
Free markets are not a panacea for all markets. Free markets in healthcare are not able to function because consumers cannot shop around for healthcare in a meaningful way. Insurance prices obscure the prices of treatments, health agencies band together and set prices, and literally stifle innovation by holding dead patents. Also you don't get to choose what hospital you are escorted off to when you have a heart attack. See how free market really does not apply here?
Frankly I do not see how democracy, the US and pure capitalism got conflated and confused in current society's mind. I blame brainwashing and propoganda. Frankly I would rather pay a little more in taxes each paycheck versus paying 400 plus a month to my insurance company as I do now.
That's wholly untrue. The restrictions you mention are due to government in the first place which does not equal a free market.
"prices for drugs go down"
No, they're "free" because they're subsidized by the state, but as they're paid for with tax payer dollar, the price of these drugs go up and the tax payer money going towards it simply inflates.
Then what isn't covered also inflates and becomes unaffordable.
There are very few companies allowed under the healthcare system as they're subsidized so competition is non-existent. You cannot innovate and compete when you're up against subsidized corporations.
In a free market, there would be incentive to lower prices to compete against the countless other companies out there trying to bring the best possible products to market for the cheapest price. Under single payer there is no incentive to innovate, but simply to profit.
The innovations we've seen over the past several years has been miniscule compared to a competitive market where others can actually afford to go head to head with other companies. Demand is off the table and prices are infinitely inflated.
"Free markets in healthcare are not able to function because consumers cannot shop around for healthcare in a meaningful way."
Again, another example of government, not free markets. You cannot shop around because there are no choices due to competition being driven out of the market.
In a free market, prices deflate based on demand and choices become greater. In a free market there are far more jobs, more production and higher wages. This is simply historically factual and mathematically inevitable.
So people have more money, more choices and lower costs.
Also, why would we not be able to pick a hospital to go to if we have a heart attack in a free market? That doesn't make sense.
Insurance companies would AGAIN be forced to compete instead of monopolized like in Canada where it's ONE insurance company with INSANE jacked up prices.
Please read Mises, Rothbard or Hayek.
Well I suppose we will have to agree to disagree. I may check out the authors you are suggesting just to get another perspective, but first there are a few things I would like to point out.
Universal healthcare and single payer currently exists in the world. All non partisan sources agree countries with some kind of universal healthcare system pay less than the US and have better health outcomes. Those are the unbiased numbers. Could you point me to a country that has your completely capatalist system in place to great success? If not, all you are claiming is simply theory, and cannot be proven until some country tries it. Going on your guidelines I could claim certain NEGATIVE outcomes of the system you suggest, but that is all they would be, unsubstantiated claims.
I never claimed drugs would be free; I said prices would go down, which again, is proven in other countries that are allowed to negotiate with drug companies.
Yes some government regulation has stamped out competition between insurance companies and healthcare providers. But government intervention has also STOPPED monolpolistic behaviors by these very companies. It is natural for companies to try to consolidate power, without government interference we get less choice often times.
You wouldn't be able to shop around for a hosptial while having a heart attack because a) you're having a heart attack and cannot pop onto your phone to look at recent reviews, prices b) you don't know what your location would be when having one so even if you picked one before time you might not be close to it c) moral obligation to take you to the closest safe harbor as providers.
I don't hate free markets, in fact, I like them much of the time. Healthcare is just not appropriate in such a system.
The problem with single payer is it usually end up as a 2 tier system. It actually create more unfairness than reduce. The rich can pay to go private and get whatever care they need. The rest that can't afford is stuck waiting in queue for treatment.
Any use of the word insurance in the mix is mislead/fraud. Insurance represent people have choice to participation in pooling risk and have a clear definition of payout. How is taxing people then tell them wait your turn for treatment with no time guarantee a defined payout "insurance" that anyone want?
Definitely something to consider, I think we can learn from other mistakes. For example, we could not allow private insurance - but I actually think that would be absurd (I think if people want to pay more for something that is there right).
Instead I think we should acknowledge that we already live in a world where things are unfair. Rich people already have better insurance, that has nothing to do with single payer. As for the wait times, I only know of two countries where that is happening due to their system, and I don't think it would be a problem in the US. We have more medical professionals with more variety of specialties. With the government involved we can create incentives for more people to go into healthcare as a career AND incentivize working in low service areas. By the way, we currently already have wait times (my husband has what is considered great insurance and has been waiting 3 weeks to see the knee specialist his insurance provider covers. If we had single payer he could go to any knee specialist he chose).
I'm my mind all the problems single payer would create are already happening in our current system.
Maybe the reason I'm skeptical of a free market in healthcare is because the closest example we have to such a system in healthcare is the veterinarian, and OMG in my experience that system is a nightmare, haha (full disclosure I think vets are saints, but I have not experienced the free market cost savings there yet
Oh wow; after I made the vet joke I googled the idea to see if there were any articles making the comparison and there was on the libertarian news site! https://www.libertariannews.org/2012/05/14/america-should-model-its-health-care-market-after-pet-care/
Maybe you all are right!! :)
The ever rising cost to become a doctor and all the new shiny and costly equipment is also a factor. I don't know how long to get a doctor degree now but ever few year I hear it is getting longer. Last dentist I talked to spend 7 year in school plus 150k for the equipments in the office. I often wonder if it is really necessary to make it that difficult or the doctor union just don't want more people in the industry driving down fees...
I completely agree. That is where there is too much bureaucracy and regulation affecting the market. I bet many smart people do not become doctors due to the cost when there are other professions that do not require as much schooling but make a comparable rate.
It's all about the Benjamins $$$
Absolutely!
One of the biggest scams in history :)
I absolutely agree. Vote
Thanks man! :)
For people with money health care isn't a big problem. But what about the poor people? How will they have access to lifesaving treatment without a government subsidized program? I believe the hospitals would still take care of people who could not pay but that would increase the hospital expenses. Dental care and health care have become very sophisticated. Big expensive machinery, testing and procedures. Would only people with money and that could pay have access? I think that is the problem.
Thank god for Obama care, you can't take away a good thing. Best thing to happen to health care in the USA Ever!!
looks very informative joshsi
Jeffrey Tucker is a new name to me. Thank you for this interview.
I first listened to his remarks about the healthcare system and its history making great points across the board. I will be looking for more from Jeffrey Tucker.
THE BEST QUESTION / ANSWER: Why do you do this? (at 6:40)
"I fell in love with human liberty . . . " - Jeffrey Tucker
He goes on to explain further - PRICELESS !
I really like Jeffrey Tucker . My own opinion is that the government should never force anyone to purchase health insurance or opt in for any kind of govt run single payer healthcare. In fact the government should stay out of health care markets entirely. Govt subsidies to the insurance companies are one of the reasons costs are so high. I pay 500$ a month for a plan with a 6300$ deductible just for my own coverage. I get a tax/ fine if I don't purchase the product and possibly jail if I do not pay the fine. I dont even use American health care or my insurance plan. I see a naturopath ND and pay cash for preventative wellness checks and if Im sick I go to India for any major medical problem or surgery where it is cheap. If we actually had free markets in the USA, we would be free to pursue all sorts of healthcare options including health sharing, joining large associations to purchase group plans, purchasing medicines in MX or Canada, shopping for insurance across state lines for cheaper prices. Of course we dont really have free markets.
Like it or not Obama Care here to stay people not going to withdraw consent