[ExI] Why is “cost of living” such a big problem?

[Ben Zaiboc]

Apologies, the last version of this post was messed up by Proton Mail. Here it is again, fixed.

On Tuesday, 3 November 2026 at 17:52, spike at rainier66.com <spike at rainier66.com> wrote:

> ...> On Behalf Of Ben Zaiboc via extropy-chat
>
> Subject: Re: [ExI] Why is “cost of living” such a big problem?
>
> On 03/11/2026 16:23, spike wrote:
> >>... Ben, our medicine costs a ton of money.  It is developed and qualified at enormous expense.
>
> >...Yes, exactly.  Expense that other countries seem able to avoid...
>
> Understatement.  Not only do other countries avoid the expense, other countries can invest and share in the profit.  Governments can buy stock in US companies.  US government generally cannot buy and hold medical research companies, for it would constitute a conflict of interest.
>
> >>... Other countries can duplicate the medication for low cost and buy the machines invented here.
>
> >...Are you saying that the US is the only place in the world that medicines and medical equipment is developed, tested and approved?
>
> No.  But our system is crazy expensive here.  Naturally to afford that, it must be crazy profitable.


That's putting the cart before the horse. The reason it is crazy expensive is because it's crazy profitable, not the other way around.


> DuckAI opines: The United States is the global leader in pharmaceutical innovation, with approximately two-thirds of new drugs that have come to market in the last decade originating from the U.S. This leadership is supported by significant investment in research and development.
>
> Ben, one country, out of all of them, the country with the poorest (largest debt) federal government of any on the planet, develops about 2/3 of the new drugs.  Yanks pick up the bill.  Everyone else benefits.  Everyone else can buy stock in yank medical companies if they wish.  Sure it is expensive.  It hasta be, otherwise the stockholders and investors will not come.
>
> >... It generates massive profits... Ben
>
> There ya go.  Profit is good.  So now you know why our medical system is expensive.  But good things come of it: new medications that everyone in the world can use, investment opportunities anyone in the world can invest in.  The US system works well if one has good health insurance.  If a patient doesn't, the hospital has insufficient resources to cover the cost and liability.  Our legal system didn't fix that.  It made it worse.


Profit might be good, but obscene profits at the expense of the health of the nation? Well, you decide.

Meanwhile, all I can say is that if I'd been living in the US instead of a country with socialised healthcare, I'd be long dead by now. I do criticise the NHS for its messy admin and inefficiency, but can't deny that it has saved my life, twice so far. At no additional cost to me, and without fattening the wallets of any health insurance companies.
If I'd been living in the US, there's no way I would have been able to afford the life-saving treatment I needed a few decades ago.

So I'm happy to be living in a country that can, according to you, sponge off the wonderful achievements of the US medical system that it is so generously giving to the rest of the world while its own people have the poorest health and lowest life-expectancy of all the developed countries, at the expense of making its rich people even richer.

Thanks!

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Ben