Name: Refuting ShortFatOtaku On the Capitalist Argument Against Universal Healthcare
Uploaded: 2021-11-11T02:25:04+00:00
Duration: 29 min 54 s
Description: Refuting ShortFatOtaku on Universal Healthcare is something I felt needed to be done, it is slightly different from other healthcare arguments I have responded in the past, however, ShortFatOtaku make

4 years ago

Refuting ShortFatOtaku on Universal Healthcare is something I felt needed to be done, it is slightly different from other healthcare arguments I have responded in the past, however, ShortFatOtaku makes the argument of a more mixed model making the baseless claim that in the absence of such regulation, the market would fail.

In this video I covered briefly on the myth of perfect competition; the flawed argument of healthcare being inelastic; the failure of universal healthcare and why using the main American healthcare market today is a very poor example to try and critique the free market in healthcare.

As I have addressed many times before, there are two healthcare systems in the United States today, one being the main American healthcare market, which I've addressed before covering why American healthcare costs so much, you can check that video here: https://www.youtube.com/watch?v=SHR7FlRrhAU

You can also check out my other video where I cover on the Direct Primary Care model: https://www.youtube.com/watch?v=V-c2uPAoh4Q

Having firsthand experience of the NHS, born and brought up in Scotland, a 5 million populated country, I can tell you that universal healthcare is not all that is cracked up to be. Whilst other universal healthcare systems in Europe may not be performing as bad as the NHS, such healthcare systems are still outlined with similar problems.

Like I've argued numerous times before, without the information of profits and losses, there is no possible chance for anything to operate efficiently, especially ShortFatOtaku's argument of price regulation to price cap profits, as he puts it. Not only would this result in widespread shortage problems, again, it misallocates resources and as I've proven, healthcare is most certainly not inelastic and cannot escape the economic reality of scarcity.

You can also watch Stephen Kinsella on Intellectual Property where he covers the issues the market is faced with regarding patents: https://www.youtube.com/watch?v=cWShFz4d2RY&t=399s

• Introduction: (0:00)
• Market Failure Claim: (0:44)
• Perfect Competition Myth: (2:17)
• Lack of Regulation Claim: (3:36)
• Absence of Care: (4:58)
• Healthcare Not Inelastic: (6:08)
• Reasons For Limited Supply: (9:52)
• Free Market Solution: (11:01)
• IP Monopoly Myth: (13:34)
• Perfect Knowledge Myth: (15:26)
• Waste Destroys Reputation: (16:19)
• Private vs Universal Insurance: (18:19)
• Universal vs Main American Healthcare: (20:55)
• Resource Misallocation: (21:59)
• Repetitive Costs Argument: (24:58)
• Deregulated Claim: (26:19)
• Profits Cap Destruction: (27:02)