Re:Why privatisation has been a costly failure in Britain
by FrustratedMonky on Tuesday July 11, 2023 @08:15AM
(#36679907)
It also doesn't work for any product with inelastic demand.
People that need insulin need it regardless of price, so a 'free' market has the property that the price increases until the 'customer' is broke and then dead. It creates corporate structures that are based more around a 'leech' model. There is no incentive to create better or more efficient products.
People that need insulin need it regardless of price, so a 'free' market has the property that the price increases until the 'customer' is broke and then dead. It creates corporate structures that are based more around a 'leech' model. There is no incentive to create better or more efficient products.