Attention foreigners! Allow me to describe the efficient market process of American private health care!
My daughter got her teeth cleaned.
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Four weeks later, our dental insurer sent us a note saying that they were paying for $235 out of the $236 bill (as our economist friends like to remind us, a co-pay gives the patient "skin in the game" and prevents frivolous teeth cleaning).
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A week after that, they mailed us a check, like, a piece of paper. I paid that check into our checking account and waited.
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Any discussion of monopolization of the web is bound to include the term "network effects," and its constant companion, "natural monopolies." This econojargon is certainly relevant to the discussion, but really needs the oft-MIA idea of "switching costs."
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(If you'd like an unrolled version of this thread to read or share, here's a link to it on pluralistic.net, my surveillance-free, ad-free, tracker-free blog:)
A short-film adaptation of Edgar Allan Poe’s “The Fall of the House of Usher,” by Encyclopedia Britannica for their Short Story Showcase. (1976) starrywisdomsect.tumblr.com/post/652072849…
A short-film adaptation of Edgar Allan Poe’s “The Fall of the House of Usher,” by Encyclopedia Britannica for their Short Story Showcase. (1976) starrywisdomsect.tumblr.com/post/652072849…
A short-film adaptation of Edgar Allan Poe’s “The Fall of the House of Usher,” by Encyclopedia Britannica for their Short Story Showcase. (1976) starrywisdomsect.tumblr.com/post/652072849…