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Comment by roland00 | Hacker News Reader

>The world of medicine will be in trouble without our system, because govetnments are really not that good at innovation.

Medicine is not like building a factory, completely different capital model for Medicine is about "discovery" there is a universal truth out there (yes there is differences in genes not making it perfectly universal) , and advances in medicine is figuring out this discovery.

It actually appears most of our medicine discoveries use basic research that is governmentally funded and not privately funded.

Pretty much you are applying top down ideology that government is bad no matter the situation or context.

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I`m applying top down ideology because I've never seen a socialized government industry out-compete any private pharma company by coming up with new/innovative medicine.

The reason is because you need to risk lots of money for R&D well beyond "basic research" and historically, governments arent nearly efficient enough to accomplish this.

Private industry/the free market is the perfect way to do this and historically has proven itself over and over again.

Another problem is that FDA approval takes over a decade and many billions of dollars. We need to find a way to improve this, without sacrificing quality.

A couple of good examples of the free market working in the free market is LASIK eye surgery. 20 years ago it was thousands of dollars. Competition brought it down to less than $500.

You don't get this natural competition with the government monopolizing healthcare and price fixing.

We all win with more competition, and government-run healthcare is the exact opposite of this.

If we all win with more competition, why do so many people have to declare bankruptcy in the US from medical bills? Why are millions of people uninsured or underinsured? Why are prices so high for medical services in the US vs other first world countries with universal healthcare, while outcomes are worse?

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