Of course there's also a certain amount of waste, fraud, and abuse that inflate our costs.
Of course there's also a certain amount of waste, fraud, and abuse that inflate our costs.
And there are no long queues for healthcare where I live. Service is cheap and insurance is nationalized.
It literally does. The costs of producing drugs are mostly borne by the US market, allowing drug manufacturers to charge less elsewhere while still investing the billions of dollars necessary to develop the drugs.
- Why doesn’t this happen in other fields? Why don’t we pay 10x more for iPhones?
- When did the american public chose to engage in this magnanimous largesse?
More likely it’s a scam and regulatory capture
I think it's a mix of pharma lobbying and also altruism. Pharma lobbies Congress to do the altruistic thing, and many Congresspeople agree, because they believe in markets and understand incentives.
For example the prohibition on importing drugs from other countries, or the rules that prevent medicare from negotiating price for drugs