Is Wall Street Making Life or Death Decisions on Your Behalf?

[Donnachaidh]

http://www.alternet.org/economy/147646/is_wall_street_making_life_or_death_decisions_on_your_behalf/

In the last thirty years, the values of Wall Street have so infiltrated American society that seemingly all aspects of life are impacted, even medical care.

s your health insurance company traded on Wall Street?

If so, is Wall Street deciding your medical care?

It's hard to recall that for-profit corporations were once kept out of health care -- in fact, for most of the 20th century. During this time, the nation's medical system was built largely by non-profit and charitable organizations, which is why so many hospitals are named for saints. Courts across the country ruled that for corporations to profit from medical care was simply "against sound public policy." In the early 1980's, however, when the financial and airline industries were deregulated, a similar process occurred for American medicine. For-profit corporations became newly encouraged to take leadership of health care. Deregulating health care into the free market was intended to drive down costs and to improve care. After all, medical care in 1980 consumed a whopping 9.1 percent of the nation's GDP.

Never mind that after 30 years in the free market, health care costs have doubled to consume 18 percent of the GDP (with a third of these precious dollars wasted on bureaucracy). Never mind that health care has gotten increasingly inaccessible to the uninsured and even the insured, or that American health care has become an international poster child for reform.

The real issue is that modern medical care has simply, finally, gotten so effective. Today, even cancer and AIDs are no longer death sentences, and if organs fail, you try to get a new one. But prior to the discovery of antibiotics and vaccines in the 1930's, leeches were routinely applied, and medicine was steeped in superstition. Between 1918 and 1920, three percent of the world's population was wiped out -- by the flu.

The fair and effective distribution of life-sustaining resources like food, water and shelter, is the very story of civilization. Yet now, thanks to centuries upon centuries of civilization and scientific inquiry, we have at last, a new life-sustaining resource -- modern medical care, which is less than 80 years old.

More at the link --

[Hannah Bell]

1. "It's hard to recall that for-profit corporations were once kept out of health care"

Hard to remember that the move toward marketization subsidized by government is what brought the ever-spiraling costs, too.

[Bitwit1234]

2. Wait a minute explain this

If you have a business, don't you file those Income Tax papers in a different way then you file personal income. If you have a small business don't you get lots of deductions or such because of the business, which you wouldn't get under a personal income tax filing. So why would this hurt small business owners.