But commodities like healthcare and the Internet are different. They’re absolute necessities bordering on human rights, for which there is no substitute. They’re enormous and impossible for an underdog to produce at a lower cost. And they’re easy for ruthless corporations to monopolize and vertically integrate for exploitative, rent-seeking purposes absent government intervention. Allowing a “free market” in such commodities isn’t free at all. It’s insane. It’s guaranteed to produce monopolies, high prices and terrible service. Which is exactly what we have in American healthcare and American internet: the world’s freest, and therefore worst and most expensive, markets in essential services.
Hullabaloo (via azspot)