On: The Invention of Money

[panarky]

> It was unseemly to lend money to someone who, without it, would die.

"Medical debt is a uniquely American phenomenon, a burden that would be unfathomable in many other developed countries."

"Nearly 60 percent of people who have filed for bankruptcy said a medical expense 'very much' or 'somewhat' contributed to their bankruptcy."

https://www.theatlantic.com/health/archive/2019/03/hospital-...

[malandrew → panarky]

If the procedure I need costs more than $1 million such as CAR T-Cell therapy, should others be forced to lend or give me that money even if I have no hope of being able to pay it back?

[panarky → malandrew]

That's what insurance does.

Some events are extremely rare and extremely expensive. We shouldn't expect every individual to have enough savings to pay for every eventuality.

Sharing that risk allows nearly everyone to live better.

The question here is whether that insurance should be provided by a profit-making corporation or a government agency.

Though the US system of private insurance is badly broken, evidence from other countries shows that both approaches can work.

[objectivetruth → malandrew]

Yeah, interesting question. But in the US, the problem right now is 26-year-old diabetics kicked off ACA plans who have to ration insulin (a drug invented a century ago, given royalty-free to the world by the inventors). Sometimes the rationing fails and they die.

So the question should be - can we as a society afford decent late 20th-Century-standard care to every person? The answer is yes, we can, but we don't.

[kortilla → panarky]

The fact that bankruptcy is even possible is completely different still from the usury of 500 years ago.

[throw0101a → panarky]

I live in Canada.

[panarky → throw0101a]

Congratulations, I'm happy for you!

Not sure that changes the relevance of the usury discussion, even if you personally are insulated from medical bankruptcy.