New York Times article from 1910: doctor complains that medical prices are too low...

[Epic]

http://query.nytimes.com/mem/archive-free/pdf?_r=2&res=9507E2D71F39E333A25755C0A9679D946196D6CF

100 years ago, medical prices were too cheap and there was too much competition:

"at the present time, there are in existence downtown somewhere between 1500 and 2000 lodges, societies, and benevolent associations founded mainly by the poorer class of workingmen for a double purpose; namely, social intercourse and mutual aid or benevolence."

"Today there is scarcely an east-side workingman who is not a member of some association which has a physician to take charge of its members... the market price per head is as follows: 1 dollar per year for an unmarried member, and 3 dollars per year for each married member, including his family."

"For these terms, he is supposed to make as many professional visits in time of sickness as he is called upon to do."

Government acted to fix this problem, and so many interventions - and 100 years - later, medical prices are too expensive and there is too little competition. Problem solved!

http://www.reddit.com/r/Libertarian/comments/bip5x/new_york_times_article_from_1910_doctor_complains/

http://www.reddit.com/r/Economics/comments/bip88/new_york_times_article_from_1910_doctor_complains/

[dannno]

Ya I heard about that before, interesting article.. the "evils" of the free market, and the supposed "holiness" of fraternal organizations :rolleyes:

[Anti Federalist]

Also the reason for the Harrison Narcotic Act and all the drug laws that followed.

The medical establishment realized that the new advances in drugs and painkillers actually worked, and had to make themselves the sole gatekeepers for them.