8 Ways Privatization Has Brought Pain and Misery to American Life

By Paul Buchheit

Wall Street Protests Fort LauderdaleSome of America’s leading news analysts are beginning to recognize the fallacy of the “free market.” Said Ted Koppel, “We are privatizing ourselves into one disaster after another.” Fareed Zakaria admitted, “I am a big fan of the free market…But precisely because it is so powerful, in places where it doesn’t work well, it can cause huge distortions.” They’re right. A little analysis reveals that privatization doesn’t seem to work in any of the areas vital to the American public.

Health Care

Our private health care system is by far the most expensive system in the developed world. Forty-two percent of sick Americans skipped doctor’s visits and/or medication purchases in 2011 because of excessive costs. The price of common surgeries is anywhere from three to ten times higher in the U.S. than in Great Britain, Canada, France, or Germany. Some of the documented tales: a $15,000 charge for lab tests for which a Medicare patient would have paid a few hundred dollars; an $8,000 special stress test for which Medicare would have paid $554; and a $60,000 gall bladder operation, which was covered for $2,000 under a private policy.

As the examples begin to make clear, Medicare is more cost-effective. According to the  Council for Affordable Health Insurance, Medicare administrative costs are about one-third that of private health insurance. More importantly, our ageing population has been staying healthy. While as a nation we have a  shorter life expectancy than almost all other  developed countries, Americans covered by Medicare  INCREASED their life expectancy by 3.5 years from the 1960s to the turn of the century.

Read More 8 Ways Privatization Has Brought Pain and Misery to American Life | Alternet.

About The Soul Brother

An observer to the world. I have a unique view of the world and want to share it. It's all in love from the people of the "blues". Love, Knowledge, and Sharing amongst all is the first steps towards solving all the problems amongst humanity.
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