Fox has recently made a video on the real reason why health care in the United States is very expensive "On one level you've seen this chart before, it shows health care spending as a percentage of A handful of countries economy; there are Germany, France, Japan, Canada and Oh, there are American

"Now, he compared it to other countries, while the United The countries spend a hell of a lot of other places in the economy, especially in foreign aid For these other countries "But now I want to add something you have not seen in this Graph, this is how much to spend in each country and how much it is your year Here's what is amazing

US government spending on health care programs such as medical care Medical care and VA, versions of our social medicine, but about the same size as this Other countries, these countries that the government manages the entire health care system " It also does not take into account the fact that countries such as; France, Italy, San Marino, Spain, even from Singapore, is what you call the "hybrid health care markets, ' In other words, they have a strong, a combination between what is somewhat like the free market And that the government safety net It's not a completely free market in health care, but Is closer, the private ownership of strong and yes, they have a much cheaper and more Effective health care systems even in the British NHS or even from America Healthcare "And then there's our private spending It's private insurance system that makes healthcare in America so expensive

"The American healthcare system was faced with 3 problems; number 1 was the American Medical Association monopoly; number 2 was the overregulation of the private sector, so it's not true private ownership at all and there is an enormous difference between true private ownership where the market would strongly regulate itself, compared to what you have today as a result of all the heavy government regulations, the smaller hospitals could not compete, many of them went under; the giant hospitals have consumed a monopoly; fewer hospitals available, as well of course, fewer medical doctors available, with a higher demand because the US population increased and this is the shortest way I can put it possible that the reason why American healthcare is so expensive in terms of your medical costs Now, on top of all of that, you had what you call the 'Third Party Payer System, 'which is anticapitalist, it's not a free market in healthcare at all Another deeply flawed argument is the idea that it's privately owned and therefore, that is what makes it expensive The fact of the matter is, privatisation or shall I say, private ownership has nothing to do with the cost, it's to do with; first of all, whether or not you have competition and secondly, to do with the laws of supply and demand Prices are signals and high prices in the market signify there's a scarcity and low prices in the market signify there's an abundance

Now, just like the American Medical Assosciation monopoly, you saw the closure of the medical schools, 168 estimated to be and as a result of that, fewer medical doctors available on the market, but a higher demand due to a higher increase in the US population for medical treatment So, it was obvious that the cause for why the costs soared in terms of medical treatment was all to do with government's interference, with government's granted monopoly to the American Medical Assosciation "Conventional wisdom says that the government is more expensive than the private sector "First and foremost, when you talk about public ownership, you do not see the costs, the costs come from elsewhere in the economy; you might think it's more affordable, they tell you the propaganda that the British NHS was free and available for everyone, yeah, that's what they tell you, but, you know? Year in, year out, ever since 1948, it was leaving countless thousands of people in neglect, that's not (and I do not know about you,) but that's not being available for everyone The second issue being, is the fact that, when it came to the NHS, it was overly extortionate, in fact, it's of recent, it costs more than £ 108 billion per year

Now even since its inception in 1948, it was extortionate Canadian healthcare alone it costs about $ 60 billion per year, the NHS dwarves that, but of course, American healthcare you could argue is far more expensive, sure, but what you choose to ignore is, number 1; the American Medical Assosciation monopoly as explained; number 2 is the issue with government's interference with the overregulation of the private sector and number 3; the 'Third Party Payer System ' The thing that people do not understand is the fact that, the costs for the NHS and all of these so-called "free goodies" come from elsewhere in the economy What I mean is, is that in order to pay for the NHS, you pay for that out of other areas of the economy, therefore, in other words; government has to compensate elsewhere in the economy in order to pay for it That means, you could have; lower paid wages; higher unemployment; it could mean, higher interest rates; it could also mean more part-time work and less full-time work; it could mean various things; most importantly, it could mean the higher inflation, in other words, the higher costs of living in the economy and that's precisely the price Britain pays for having things like the NHS

"It can not say no, it's corrupt, it's inefficient, it's slow, you want something done right, you give it to the private sector and that is what we hear in America all the time and yet here we are with the biggest private sector spending the most "The reason why they tell you to give it to the private sector is because what government is faced with is the knowledge problem, as well of course, the economic calculation problem Now, a fine example of that was the British NHS When they nationalised the British NHS in 1948, it meant there was an extremely high demand for healthcare, but there was a shortage, because it can not sustain it, there was a very high demand and therefore, the costs had soared through the roof, so what did government do to try and save face for the expensive costs of healthcare, how did it try to rectify that problem? Typical, it resorted to what we call a price ceiling, a government price control, where it tried to artificially and the keyword there is 'artificially,' it tried to artificially lower the cost below market value and what did that cause? A shortage, a shortage of beds, massive big long waiting lines Currently the NHS is wasting £ 7

6 billion per year, do you want to know why every single year on record that's been the case? The NHS is faced with the economic calculation problem, the government's faced with that problem and what that means is, is when you nationalise something and you give government the control over prices, the government distorts the information of profits and losses and as I've mentioned many times before, it distorts the information that enables you to know; what to produce more of and what to stop producing; where to allocate valuable scarce resources and where not to; what to invest in and what not to invest in In other words, if you do not hold the information of profits and losses, you're left with what the government is left with today and that is pretty much guess work; it overproduces; it misallocates the valuable scarce resources into the wrong parts of the healthcare market and can you afford that when time is valuable in a healthcare system? "Why is the free market so bad at controlling the cost of health care in the United States?" Because it's not a free market in healthcare, not only is the private sector overregulated by the government, you're faced with a 'Third Party Payer System,' as I've mentioned before, a free market in healthcare means that there is a straight transaction between the consumer and the provider and the consumer through consumer demand, gets to shop around for the cheaper cost and that is not available to them today Instead, what you have is a monopolised system created by the government through the interference of government, where a third party is the one determining the cost, to state that that is a free market, is fallacious Furthermore, a free market would not have closed down all of those medical schools, in fact, probably it would have built more medical schools So, this has all been done by a government that granted a monopoly to close down all of those medical schools and through all of the government regulation that caused the problem, that's got nothing at all to do with a free market

"The price for someone with public insurance like medicare or medicaid is often lowest price These groups cover so many people that the government can demand lower prices and hospitals and doctors and they get those lower prices; if the doctors in hospitals say 'no,' they lose a tonne of business "The problem with the argument on medicare and medicaid, is that, again, it's this hidden cost You have this idea that, somehow, it's more affordable, it may seem that way, but the problem is, there's a hidden cost, you're paying for it out of other areas of the economy and in many cases, I saw, people's health insurance costs drive up, not drive down and under President Obama's tenure as President, over the 8 years, we saw; higher unemployment; we saw the costs of living soaring; there was other issues to do with the wages being driven down and therefore, they started to, well, they tried to rectify the problem through the raise of a minimum wage, which led to an even bigger unemployment problem The United States was in a really big mess and the debt level had soared, under President Obama the debt had, you know, colossally soared and that was not just because of the healthcare issue, he was, you know, with all the war intervention etc, all of that cost

So, there's a price to pay for it, there's a price to pay for medicare and medicaid, it might sound reasonable and nice, but there's a better solution to that problem to make healthcare more available and more accessible and that is through the free market "In America, the ideas that you'll be a consumer, that you'll do what you do when you go to Best Buy and buy a television, but that just does not work in healthcare, it does not work in healthcare because you have to come get healthcare when you're unconscious and an ambulance when you're scared; when it's for your spouse or your child, it is a time when you have the least bargaining power "Again, it seems a reasonable argument, you could say that healthcare is not like buying a television etc, you know, you make a good reasonable point about that, but again, when you try to use that argument and you turn your attention to the British NHS, it does not work and it does not work because every single year on record, countless thousands of people have been brushed under the carpet by the sympathisers of the NHS and they've been left in neglect I just recently heard some sort of a story where an old woman who was a neighbour to a friend of mine on Facebook, had fell and she was covered in blood or something like that You know, an old woman and despite the fact my friend was phoning for an ambulance, she could not get one, she had been trying for quite a considerable amount of time just to get an ambulance and she could not get one

Now, that's the British NHS Now, you could use all the excuses and like I've seen before, I've seen these excuses before and the number 1 excuse is this; they say the NHS is being intentionally underfunded Now, the Labour Party poured billions of £ 's into the British NHS in the past and despite the fact pouring billions into the NHS, the failure continued on failing; the waste did not go anywhere; the massive big long waiting lines did not go anywhere, the problems just persisted; the only difference is, is you pour more money into it, which was a waste and the failure kept on failing and that's no different to today The only difference being, and yes, of course, the immigration crisis has had a strain on the NHS and we understand that's a problem in itself, it's why they had to bring in private initiatives, they had to do it in order to try and improve the healthcare system Now, it's quite laughable, because, a privately run hospital, somewhat private, Hinchingbrooke was a hospital that was awarded for its excellence and it gave every single state run hospital up and down the whole of the British Isles a showing up

That same privately run hospital was stitched up, the evidence even came out about that after the General Election, I think that pretty much speaks volumes for itself

Source: Youtube