College tuition and medical fees are so high in the U.S. because, by government policy, supply is restricted and demand is subsidized. Period. The solution is to stop doing that. The solution is NOT to do it even more.
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Can you elaborate on how supply is restricted and demand subsidized through policy?
In the U.S. supply is restricted by licensing requirements, FDA approval processes, lawsuits, regulations., etc. Demand ins subsidized through the Obamacare subsidies, Medicare, Medicaid, a variety of state programs, etc.
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Also public college is subsidized by virtue of state funding and supply restricted because of accreditation.
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Hospitals are required to provide care to anyone who walks through their doors regardless of whether they can pay. Their care is essentially paid for by the insured or Medicare/Medicaid if they qualify. The Gov’t uses their massive purchasing power to name their price.
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Thx for the reply!
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