12.4.15

WHY IT'S MORE EXPENSIVE WHEN IT'S FREE AND UNIVERSAL.

Nobody has an incentive to discover the price. "Buying medical services and buying textbooks have been regularly decried as gouge-fests." Yes, the article is old, and the third-party payment (or principal-agent) phenomenon is canonical, and yet our political masters continue to hoodwink the taxpayers into making stuff "affordable" without providing incentives to discover the prices, or something approximating to the frontier production function.

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