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The Water Cooler
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When does the idiot finally get it?
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<blockquote data-quote="inactive" data-source="post: 1427004" data-attributes="member: 7488"><p>I inferred correctly, however I meant that as "if insurance is an inefficient market, perhaps it should not exist, in a free market or as government subsided good or otherwise." Perhaps I worded that poorly. I understand we are likely in too deep for that to ever be a practical solution.</p><p></p><p>On the macroeconomic level, most markets are considered to reach an efficient equilibrium, or they will cease to exist. On the micro level, if an entity cannot compete efficiently, they withdraw from the market. (These are of course gross simplifications)</p><p></p><p></p><p></p><p>For the record, my BA is in Economics. My Masters is in Human Relations (i.e. organizational behavior). I guess I should also disclose that I work for a (non-healthcare) insurance company.</p></blockquote><p></p>
[QUOTE="inactive, post: 1427004, member: 7488"] I inferred correctly, however I meant that as "if insurance is an inefficient market, perhaps it should not exist, in a free market or as government subsided good or otherwise." Perhaps I worded that poorly. I understand we are likely in too deep for that to ever be a practical solution. On the macroeconomic level, most markets are considered to reach an efficient equilibrium, or they will cease to exist. On the micro level, if an entity cannot compete efficiently, they withdraw from the market. (These are of course gross simplifications) For the record, my BA is in Economics. My Masters is in Human Relations (i.e. organizational behavior). I guess I should also disclose that I work for a (non-healthcare) insurance company. [/QUOTE]
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