This has always interested me. One thing economists tend to be confused about
is what people mean by compete. We tend to think this is something that ends
with lower prices and lots of choice of provider. Most commercial
organisations characterise competing as getting sufficiently ahead of the possy
that there is less risk of others taking their business, and a quieter life can
follow.
Charles Normand
Quoting Adam Oliver <[log in to unmask]>:
> Funny how the private insurance system often say that they support the
> competitive market, but only seem to support it in practice when it
> doesn't work.
>
> Adam Smith is probably spinning in his grave.
>
>
> SPOTLIGHT: REGULATE US, PLEASE
> America's Health Insurance Plans President and CEO Karen Ignagni at a
> Senate hearing says members would concede to greater government
> regulation, as the industry works to prevent the creation of a
> government-run health plan that could threaten their business. AHIP also
> offers to stop charging women more for coverage and to accept new
> consumer protections. Ignagni says insurance companies "accept the
> premise that the system is not working today and needs to be reformed."
> Ignagni adds that the industry is calling for "a full-scale renovation
> and a complete overhaul of the existing regulatory mechanisms." The
> industry's call for greater regulation could stem from concerns about
> growing support for national health care overhaul, leading private
> insurers to face two choices: "change the way they do business or face
> competition from a government-run insurance plan that many say would
> eventually run them out of business." (story) <>
>
> Please access the attached hyperlink for an important electronic
> communications disclaimer:
> http://www.lse.ac.uk/collections/secretariat/legal/disclaimer.htm
>
>
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