We needed this yesterday for Housing and healthcare. In fact all necessities should have strict price controls. For healthcare that would be for any established medicines, (i.e. insulin) and not apply to brand new treatments.
This reduces the incentive to produce treatments (like insulin) which seems a poor idea from a health standpoint
That's a very weak argument. Insulin is affordable in every country that is not the US.
1. As mentioned, I'm saying no price controls for new treatments. 2. The fact that insulin pricing spiked in US proves our version of capitalism is broken, especially for inelastic products.
Yes, price controls failed horribly in the 70’s but this time it’ll work!