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It's all about the rent-seeking behavior

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KingOrfeo

Literotica Guru
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Rent-seeking:

In economics and in public-choice theory, rent-seeking involves seeking to increase one's share of existing wealth without creating new wealth. Rent-seeking results in reduced economic efficiency through poor allocation of resources, reduced actual wealth creation, lost government revenue, increased income inequality,[1] and (potentially) national decline.

Attempts at capture of regulatory agencies to gain a coercive monopoly can result in advantages for the rent seeker in the market while imposing disadvantages on (incorrupt) competitors. This constitutes one of many possible forms of rent-seeking behavior. The idea was originated by Gordon Tullock and the term was coined by Anne Krueger in a 1974 essay.[2]
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Profit-driven health insurance companies engage in this. A government single-payer system does not. That is why the per capita cost of health care in Canada is only 60% of the cost in the U.S.; most of the extra 40% is going to insurance executives and shareholders.
 
From the provided link:

The word "rent" does not as a rule refer here to payment on a lease but stems instead from Adam Smith's division of incomes into profit, wage, and rent.[4] The origin of the term refers to gaining control of land or other natural resources.
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Profits, money derived from being in the healthcare business are . . . profits. As such, they are not rent.


Rents are rents. Controlling real property and allowing others to use it for a fee. I have a housemate - my tenant. I seek rents. It increases the amount of money that I have to squander on whiskey and women, and I don't have to provide an active service to collect it.


Income is income. People waste entirely too much time thinking about this trivial shit.
 
Wat_Tyler said:
Income is income. People waste entirely too much time thinking about this trivial shit.
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That's because people like KO dont' think about generating their own income.

They spend their time thinking about how to take it from those that do.
 
BotanyBoy said:
That's because people like KO dont' think about generating their own income.

They spend their time thinking about how to take it from those that do.
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Which would be
seeking to increase one's share of existing wealth without creating new wealth
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, like it says in the OP.


Or like the whiner claiming how the system is rigged and how wealth needs to be redistributed.


I want some wealth redistributed into my pocket, I find a service to provide, and then I provide it.


Colossally simple, really . . . .
 
Wat_Tyler said:
Profits, money derived from being in the healthcare business are . . . profits. As such, they are not rent.
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Economists use the word "rent" in a technical sense relevant to their discipline; they do not use the word to mean the kind of "rent" a tenant pays a landlord. The insurance companies artificially inflate the cost of health care. They use their position in the market to make more money for themselves than they create in wealth. That's rent.

In economics, economic rent is any payment to a factor of production in excess of the cost needed to bring that factor into production. In classical economics, economic rent is any payment made (including imputed value) or benefit received for non-produced inputs such as location (land) and for assets formed by creating official privilege over natural opportunities (e.g., patents). In neoclassical economics, economic rent also includes income gained by beneficiaries of other contrived exclusivity, such as labor guilds and unofficial corruption.

Economic rent should not be confused with producer surplus, or normal profit, both of which involve productive human action. Economic rent is also independent of opportunity cost, unlike economic profit, where opportunity cost is an essential component. Economic rent should be viewed as unearned revenue,[citation needed] whereas economic profit is a narrower term describing surplus income greater than the next best risk-adjusted alternative. Unlike economic profit, economic rent cannot be eliminated by competition, since all value from natural resources and locations yields economic rent.[citation needed]
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BotanyBoy said:
Yea but since he wants to use the force of government to do it, we call it "taxation" ....LOL or socialism.
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The amounts of officials' and civil servants' incomes do not depend on how much revenue the government is collecting, but insurance execs and stockholders make more money when the companies make more money. That's the difference.
 
EternalFantasies said:
I think u'll need to confirm with him first.
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Quad bypass surgery. Didn't cost me a single fucking penny. Heart attack while unemployed two years ago. Didn't cost me a fucking penny.

America is expected to have a life expectancy comparable to Mexico and Croatia. Also the only 'rich' country where the average height is not growing. This shows problems with early year nutrition. Unless you have money or a good benefit package the US is a decidedly unhealthy place to live. Well as unhealthy as Mexico or Croatia.
 
Hard_Rom said:
Quad bypass surgery. Didn't cost me a single fucking penny. Heart attack while unemployed two years ago. Didn't cost me a fucking penny.

America is expected to have a life expectancy comparable to Mexico and Croatia. Also the only 'rich' country where the average height is not growing. This shows problems with early year nutrition. Unless you have money or a good benefit package the US is a decidedly unhealthy place to live. Well as unhealthy as Mexico or Croatia.
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Hey first, contrary to your apparent wishes in by ban thread, glad you're ok and still with us. wow.. quad bypass.

But cost wise, sure. Only quality of healthcare is by far better in the US. I have feedback from both users as well as industry players.

It's accessibility i suppose that is the issue.
 
Hard_Rom said:
Also the only 'rich' country where the average height is not growing. This shows problems with early year nutrition.
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That's hard to believe. There cannot be a family in America so poor that they cannot afford to feed their infants enough.
 
BotanyBoy said:
But their campaigns do....
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True and irrelevant except WRT the problem stated below.

BotanyBoy said:
Bull shit.

They are the 1% and they are fucking you up the ass. :)
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Few of the 1% are in the civil service. Some are in Congress, but that's a different problem -- it does not incentivize them to tax the shit out of us, it incentivizes them to do whatever the 1% -- including health-insurance execs and stockholders -- want done.
 
EternalFantasies said:
Hey first, contrary to your apparent wishes in by ban thread, glad you're ok and still with us. wow.. quad bypass.

But cost wise, sure. Only quality of healthcare is by far better in the US. I have feedback from both users as well as industry players.

It's accessibility i suppose that is the issue.
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Quality can't be that bad. On every health indicator Canada is on par with the US. No system is perfect but if others live just as long (or longer) and are just as healthy for a lot less money then I would suggest our system works just fine.

Quality of healthcare in the US IMO is better for those with money or good benefits. Not so much for the less fortunate. A very good example of how socialism can do good things.
 
KingOrfeo said:
True and irrelevant except WRT the problem stated below.
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OHHHHHHHHHHHH it's only a problem when (R)'s do it for their corporate interest right?

LOL

KingOrfeo said:
Few of the 1% are in the civil service. Some are in Congress
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Congress is almost all 1%'ers. It's one of the fastest ways to become a 1%'er challenged only by getting a government contract from said congress.

KingOrfeo said:
but that's a different problem --
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No it's not.


KingOrfeo said:
it does not incentivize them to tax the shit out of us,it incentivizes them to do whatever the 1% -- including health-insurance execs and stockholders -- want done.
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And what do they want done? Taxes/Regulations to keep the 99% on that 9-20$/hr slave wage gig......

Only the elites should get to make their own money.

Any YOU explicitly support this. Isn't socialism wonderful? :)
 
Hard_Rom said:
Quality can't be that bad. On every health indicator Canada is on par with the US. No system is perfect but if others live just as long (or longer) and are just as healthy for a lot less money then I would suggest our system works just fine.

Quality of healthcare in the US IMO is better for those with money or good benefits. Not so much for the less fortunate. A very good example of how socialism can do good things.
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It's mob rule in Canada, working in government owned institutions. Unless ontario is just wonderful..

But the US has better equipment, management, customer service, skills (brain drain as example), and above all, Morals!

You may have a point when one is under an HMO but its still far better coz that's just the market. One has to be stupid too on top of not having money to be worse off.

As for accessibility. Yea. Absolutely. And btw. Anyone making loads of money on research grants to test on your kids, and paying for affordable equipment and not buying latest technologies, would love to have you.

Are there any children's hospitals except one, and that is university run, with kids testing their skills on yours?
 
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