> Will people pay more for stability and reliability?
Given that the USA pays higher-than-average prices for poorer-than-average outcomes, I'd say this is a spurious hypothetical, mostly useful for helping to demarcate the point where economics ceases to be an empirical, scientific pursuit and instead becomes a sort of low-rigor offshoot of moral philosophy.
But, back in the realm of epiricism, we know that this is one of those situations where closer government regulation can produce higher quality of service at lower cost, because the rest of the developed world has figured out multiple successful formulae for doing so. The only clear downside, if you can call it that, is that their hospital administrators don't seem to have quite such large collections of luxury watches.
Given that the USA pays higher-than-average prices for poorer-than-average outcomes, I'd say this is a spurious hypothetical, mostly useful for helping to demarcate the point where economics ceases to be an empirical, scientific pursuit and instead becomes a sort of low-rigor offshoot of moral philosophy.
But, back in the realm of epiricism, we know that this is one of those situations where closer government regulation can produce higher quality of service at lower cost, because the rest of the developed world has figured out multiple successful formulae for doing so. The only clear downside, if you can call it that, is that their hospital administrators don't seem to have quite such large collections of luxury watches.