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Can I hire my friend who is a medical student to perform surgery on me legally? No?
I think it can, I've been thinking about this and it's "scam".
Like, think how often everything in our country is a straight up scam. Healthcare, parking tickets, basically anything you buy. It's almost all snake-oil flim-flam every which way and as a 'consumer' you have to wade through the mire every single day to get scammed as little as possible.
You have to be more precise as there are clearly aspects of capitalism that have resulted in tremendous improvements in quality of life (look at North Korea vs. South Korea).
Regulatory capture is one of the issues & revolving door politics. Especially a big problem in the healthcare & finance industries (the current head of the SEC spent his career at Goldman Sachs for ex.)