Unfortunatley we already have enough price control to be feeling the bite of price control problems. For instance, the ratio of what a general practitioner can charge in fees to what a surgical specialist can charge is set by the government. Its also set by a formula cooked up by a sociologist using the labor theory of value, for heaven's sake.
And we do have production quotas for prescription drugs, issued by the FDA. Drug companies can set whatever prices they want but they can't change their production in response to market prices - producing more of drugs that have shown an unexpected demands.
In many ways the current US healthcare system is the worst of both worlds.
And we do have production quotas for prescription drugs, issued by the FDA. Drug companies can set whatever prices they want but they can't change their production in response to market prices - producing more of drugs that have shown an unexpected demands.
In many ways the current US healthcare system is the worst of both worlds.