Re: Obamacare facing legal challenges, one provision possibly unconstitutional
It works for you because there isn't competition.
In the bad old days - New York for example in the 1800s - there were 'volunteer' and 'for profit' firefighting companies.
So you would see things like one fire fighting company physically assaulting another to prevent it from impinging on the first's turf.
Or a fire fighting company standing by and watching a single house burn because it hadn't paid its 'taxes'.
There are reasons why fire fighting should be a common public service:
1) A single house burning endangers the others around it
2) A single service can best provide seamless coverage
3) The cost averaged out is small for individuals, but lack of such service leads to periodic catastrophic costs
Note that the above can also be provided by a single monopolistic for profit service - but then you get the rentier action.
Which is exactly what Dr. Michael Hudson is speaking to.
Originally posted by stetts
In the bad old days - New York for example in the 1800s - there were 'volunteer' and 'for profit' firefighting companies.
So you would see things like one fire fighting company physically assaulting another to prevent it from impinging on the first's turf.
Or a fire fighting company standing by and watching a single house burn because it hadn't paid its 'taxes'.
There are reasons why fire fighting should be a common public service:
1) A single house burning endangers the others around it
2) A single service can best provide seamless coverage
3) The cost averaged out is small for individuals, but lack of such service leads to periodic catastrophic costs
Note that the above can also be provided by a single monopolistic for profit service - but then you get the rentier action.
Which is exactly what Dr. Michael Hudson is speaking to.
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