July 26, 2010
Would government approval of allowed health insurance plans be considered a restraint of trade?
Pascha asked:
It it would negatively impact businesses in other countries, could a complaint be filed with the WTO for restraint of trade?
It it would negatively impact businesses in other countries, could a complaint be filed with the WTO for restraint of trade?
For example, modern hospitals in India and Thailand where Americans now go for cheaper surgeries would lose business
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Comments on Would government approval of allowed health insurance plans be considered a restraint of trade?
India and other countries and most of all our government would like that better. They would not hesitate to make a deal with the Chinese either and offer to pay for the treatment (cover it under insurance), because it will save the U.S. Government billions. What it will do is bring the rates in this country lower and make it reasonable, if people started leaving for all the expensive surgeries.
By the way Mayo Clinic and Harvard are already operating hospitals (the type you mentioned) in India. It is thriving and they expect to open more. This will happen whether we like it or not. Just like in any trade. If we are not competitive, we will lose out, just like we did in the automotive industry.
PS: You have a creative mind, to come up with that question.
Create a video blog…instantly.
And the problem is what? Governments because they are the sole legal user of force are always restraining trade to the detriment of the market.
Governments restraint trade with pricing floors. Demanding that all lawyer be ABA approved (The ABA is a UNION to restrict entry into the profession[guild]) as is the AMA.
Why do you think things cost more and are often inferior in quality. Market forces are not allowed to freely operate.