In the limit case we'll spend all our money on healthcare, since that will be the need that remains after all others are satisfied. Unfortunately the US is a bit ahead of its time in this respect.
You are assuming the ideal free market of economic theory, but health care practically everywhere is extremely far from this ideal.
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The free market assumes neither buyer nor seller are under duress. But with healthcare the buyer is often under duress and open to extortion. Does anyone price shop in the eR?
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It doesn’t even matter if they did, because hospitals in the US do not reveal their cost until AFTER you got your procedure or service.
End of conversation
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Health care spending here is part of the Medical-Industrial complex, an unstoppable juggernaut that only complete / near complete economic collapse can halt...
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