In the Crash Course Econ #29, Jacob and Adriene discuss the economics of healthcare in the United States. Their point of view is that health care in the US is excessively expensive when compared to other countries with similar per capita incomes. They focus on how this high cost is due to a combination of factors such as inefficient hospital administration, inability to negotiate drug prices, insurance companies making profits off premiums, and a lack of price transparency for medical services.

Ethically speaking, they argue that people are paying too much for their medical care and not getting enough value for their money. They also bring up an ethical dilemma based on cost benefits; if we could reduce costs by reducing quality or access to treatments then should we do it? This would be especially pertinent for those who don’t have insurance coverage or limited coverage where certain treatments may not be available through their provider.

I believe that these issues discussed definitely have moral and ethical implications because people’s lives are at stake due to soaring medical costs and lack of affordable access to necessary treatments. It can be difficult to choose between what someone can afford within a set budget versus providing quality healthcare which may save lives but increase costs significantly. People should not have to choose between sacrificing quality treatment or going into debt just so they can receive adequate care.

I agree with Jacob and Adriene’s point of view as far as needing more efficient hospital administration processes and preventative measures like negotiating drug prices in order to keep healthcare costs down while still providing quality service. Having clear pricing information ahead of time would help consumers make informed decisions while seeking medical care instead of potentially being surprised by large bills later on down the line from things that weren’t considered beforehand. Furthermore, putting caps on profit margins from insurance companies could help lower overall rates without compromising individual patient coverage or quality service provided by hospitals and physicians alike across America.