[extropy-chat] Extinctions

[BillK]

On 6/15/06, Lee Corbin wrote:
<snip>
> I'd be willing to bet that 70% or more of health costs can be
> traced to the failure to have a free market in health care,
> and to regulation.
>

Luckily, I don't bet. :)

This claim is wild speculation based on your economic beliefs.

Even with the present regulations and the FBI and the DOJ, health care
fraud is estimated to be around 10% of all health expenditure.

If you took away the regulation and gave the crooked entrepreneurs a
free run you would be lucky to get *any* treatment that did not have
some element of fraud and rip-off attached.

Yea, I know, all the millions of patients could start suing the
suppliers for damages (if they're still alive, that is). The legal
bills would be far higher than the present costs and you wouldn't get
your money back anyway as these crooked companies would close down and
start up again under another name quicker than the legal system could
chase them.

<http://www.ftc.gov/bcp/conline/pubs/health/frdheal.htm>
<http://www.fbi.gov/hq/cid/asset/wcc.htm>

BillK