AMERICA - Our Economic System

This is my opinion on our American economic system. I am not an economist nor historian, just a techie, so this is just my take.

First we are generally considered to have a capitalistic economy.....

Capitalism is an economic system in which the means of production are privately owned and operated for profit from investment, usually in competitive markets.

At least that's the ideal. In layman's terms, a provider (of goods or services) can charge whatever the buyer is willing to pay.

But, to paraphrase Winston Churchill, capitalism is the worst economic system except for all the other forms.

Why? It is actually obvious if we think about it. Capitalism is a human invention, therefore faulty.

The problems with our system is highlighted by various problems in our society today.

Lets go with my top example, Health Care:

Why are we struggling with this? MONEY.

We may have the best medical care available but what good is this when a person who needs it cannot afford to pay?

A rich have no problem, they don't even need Health Care Insurance, they can just write a check.

For the rest of us, to actually GET health care, have to be able to afford health insurance or get it through our job (if we have one).

Unlike buying a new TV, car, or food, where we do have a free choice of what we are willing (and can afford) to pay, you cannot do that with healthcare.

"Sorry Mr. Jones, you have an advance cancer and you need surgery ($+$+$), a hospital stay ($+$+$+$+$) chemotherapy ($+$+$+$+$+$+$+$), and you will not be able to work for 6 months. And I see your health care insurance will not pay the full cost."

You cannot bargain, do comparison shopping for treatment (especially if you are on a Health Insurance Plan), and you cannot put it off until you save enough money to pay. At last without risking your life.

Paying for health care is not like deciding if you can afford porterhouse steak or hamburger.

This is where capitalism fails. Your health is being held hostage to the bottom-line (profits) of the health care industry.

The question we need to ask, is that ethical or even moral? Is it OK to put a price-tag on the life of people? To allow an industry to pay only "this much" for your medical needs, or allow them to force you to sell your soul to afford it, so they can make a profit.

Why do we allow the pharmaceutical industry to sell their drugs at higher price in the U.S. than they do in Canada or Europe? Not to mention having a government that wants to prevent you from buying the SAME drugs from Canada.

The bottom line for us is the capitalist system does NOT work in the area of health care.