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Cake day: September 15th, 2023

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  • Medicine in the US is the closest we have to a free market. (Newly developed pharmaceuticals being a bit of exception due to the nature of our patent system) In a free market you work on principles of supply and demand. An important concept here is that of inelastic demand. For certain goods, up to a certain point demand will remain constant regardless of price as they are essential to life or addictive. Think gasoline, water, cigarettes, etc…

    With medicine people will generally spend whatever it takes often even going into debt if necessary because they value continuing to live very highly. As a result, hospitals are able to charge as much as they think people are willing to pay before they decide that dying is a better financial decision.

    You could argue that in a free market, hospitals which charge less will see more business pushing costs down. For certain areas like elective plastic surgery the whole free market model actually works out fairly well since people have the option to shop around. However, let’s say you get in a life threatening car crash. In that moment you don’t have the time to shop around for the cheapest ambulance provider and run a cost benefit analysis on which one has the closest ambulance. After that you can’t shop around local hospitals to see which can offer the cheapest solution for your procedure because first off you don’t know exactly what’s wrong until you get to the hospital. Second, you’re currently suffering from serious injuries and need to get to the closest hospital. This is why just about the entire developed world apart from the US has nationalised healthcare. Is it completely free of issues? No. Are there some markets where private healthcare can offer better service? Yes. However, you don’t have people going into financial ruin because they needed emergency medical care.
















  • The things is that time zones are a natural part of the earth. Back when people told time by the position of the sun, people in different places would naturally observe a different time. Should everyone around the globe have somehow established contact and said, hey one day we’re all going to be in constant contact, could you change your sundials to read the time where I am instead of where you are? At the end of the day, although time zones and daylight savings time have created some slight variations on this concept, noon/midday was defined by the concept of the sun being directly overhead. Since the origins of time telling are based on the sun, there is no first place where we didn’t start with time zones. Unless we somehow advanced as a society to create computers and the Internet without having ever created a system of time.