Hmm, and yet the US is not the only example of a capitalist nation with a health care system. The problem has more to do with regulatory capture. You can say that this is a consequence of capitalism, but then how do you explain other capitalist nations which do not have similar issues with their healthcare systems? There must be some aspect which is specific to the US, and personally I think it traces back to the degradation of antitrust enforcement under the Reagan administration, which allowed massive conglomerates to form.
Blaming this specifically on capitalism is too narrow, it ignores the broader sociocultural issues that lead to the current situation. Capitalism as it is realized in the US is more a symptom of underlying issues than it is the core of the problem. Attempting to replace capitalism with a different economic system will not resolve the problem.
USA has one of the worst examples of health care: 17% GDP spending on health care. It’s not just the most expensive private health care system, it’s the most expensive health care system.
But it’s also not a fully privatized health care system, or even the most privatized one. Roughly half of the insurance spending is public via Medicare, Medicaid, military, etc.
Switzerland’s and Netherland’s systems can be viewed as more privatized (100% of insurances are via private sector, NL almost all hospitals are private), and are way more efficient than the US system.
Looks like privatized health care + private insurance works the best, but it does seem to require some guardrails (which you might call socialism, I guess). But also devil’s in the details and it’s possible to do everything badly. I also wouldn’t be too amazed if somebody managed to do fully socialized healthcare well. But I would be amazed if such a system stayed good longer than a few decades.
Hmm, and yet the US is not the only example of a capitalist nation with a health care system. The problem has more to do with regulatory capture. You can say that this is a consequence of capitalism, but then how do you explain other capitalist nations which do not have similar issues with their healthcare systems? There must be some aspect which is specific to the US, and personally I think it traces back to the degradation of antitrust enforcement under the Reagan administration, which allowed massive conglomerates to form.
Blaming this specifically on capitalism is too narrow, it ignores the broader sociocultural issues that lead to the current situation. Capitalism as it is realized in the US is more a symptom of underlying issues than it is the core of the problem. Attempting to replace capitalism with a different economic system will not resolve the problem.
I’d argue it’s because the other countries have tempered capitalism with socialism to create strong social nets to protect people.
USA has one of the worst examples of health care: 17% GDP spending on health care. It’s not just the most expensive private health care system, it’s the most expensive health care system.
But it’s also not a fully privatized health care system, or even the most privatized one. Roughly half of the insurance spending is public via Medicare, Medicaid, military, etc.
Switzerland’s and Netherland’s systems can be viewed as more privatized (100% of insurances are via private sector, NL almost all hospitals are private), and are way more efficient than the US system.
Looks like privatized health care + private insurance works the best, but it does seem to require some guardrails (which you might call socialism, I guess). But also devil’s in the details and it’s possible to do everything badly. I also wouldn’t be too amazed if somebody managed to do fully socialized healthcare well. But I would be amazed if such a system stayed good longer than a few decades.