Deaths of Despair and the Future of Capitalism
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Read between June 13 - August 7, 2020
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In 2018, the healthcare industry employed 2,829 lobbyists, more than 5 for each member of Congress. More than half of the lobbyists were “revolvers,” ex–Congress members or ex-staffers. Some go as far as to describe Congress itself as the “farm league” for lobbying.
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Not only in the healthcare industry but also in business more generally, anticompetitive behavior, wherever it exists, is an agent of upward redistribution.
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The organization of the American healthcare system is a disaster for the harm it does to health, but even more because it is draining the livelihoods of Americans in order to make a rich minority richer.
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The Sheriff of Nottingham has taken up residence in Washington, DC, and the good cops have left town. Robin Hood is nowhere to be seen.