> Why do people always reach for central control, when we have the ultimate mechanism of price control as a core part of our society (competition).
Competition & free markets doesn't work in all markets. Medicine is a prime example of an inelastic product that allows companies to abuse the consumer. There's endless examples and research on this if you feel skeptical. Education less so but it seems to still be there.
And I think it needs to be recognised because central control in education of USA working, doesnt mean central control doesn't work. In Australia we have good systems for universal heath and an excellent system to control the price of medicine (called PBS if you want to read more). Our university system while not perfect seems much better run than USA - its called 'HELP' if you want to read more. Or Germany & finland seems to have gold star education systems.
These days people seem to increasingly worship 'free market' or 'socialised markets' wholistically. The reality to me seems each suits different market categories and many markets need a hybrid approach.
If we stop preaching political preference and look around the world for the many examples of where markets are set up well I suspect we'd improve things greatly. And stop aligning one market category with the if it works well here it must in every category.
Competition & free markets doesn't work in all markets. Medicine is a prime example of an inelastic product that allows companies to abuse the consumer. There's endless examples and research on this if you feel skeptical. Education less so but it seems to still be there.
And I think it needs to be recognised because central control in education of USA working, doesnt mean central control doesn't work. In Australia we have good systems for universal heath and an excellent system to control the price of medicine (called PBS if you want to read more). Our university system while not perfect seems much better run than USA - its called 'HELP' if you want to read more. Or Germany & finland seems to have gold star education systems.
These days people seem to increasingly worship 'free market' or 'socialised markets' wholistically. The reality to me seems each suits different market categories and many markets need a hybrid approach.
If we stop preaching political preference and look around the world for the many examples of where markets are set up well I suspect we'd improve things greatly. And stop aligning one market category with the if it works well here it must in every category.
PBS: https://en.wikipedia.org/wiki/Pharmaceutical_Benefits_Scheme
HELP: https://en.wikipedia.org/wiki/Tertiary_education_fees_in_Aus...