Earlier quoted context omitted.
> The difference is private companies that accumulate too much waste and useless things can fail and be replaced. The US healthcare system is evidence that this is an overly simplistic view. In a not for profit healthcare insurance system, every dollar not spent on patient care is considered waste, and we work to decrease it. In a for profit healthcare insurance system, every dollar not spent on patient care is consi…
If you think the US healthcare system is a good example of something that isn't driven by pervasive regulation, this is exactly the kind of "what the hell is water" problem I was talking about.
Wouldn't the largest private health insurer just buy up all the smaller ones, and then how exactly would competition work?