Economics... (10 Viewers)

OP
Seven

Seven

In bocca al lupo, Fabio.
Thread Starter #62
Jun 25, 2003
39,307
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    • Thread Starter #62
    Juliano13 said:
    OK

    "In 1961 Janssen Pharmaceutica was purchased by the American corporation Johnson & Johnson, and is now part of Johnson & Johnson Pharmaceutical Research and Development (J&J PRD)"

    Also, most European pharmaceutical companies are private, too, you know.
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    Yeah, but that wasn't your question. It also ignores the fact that states put massive amounts of money in these companies.

    I've never met anyone as gullible as you tbh. Not sure how to react..
     
    Juliano13

    Juliano13

    Senior Member
    #63
    May 6, 2012
    5,017
    #63
    Seven said:
    He also ignored that it's not a choice. People over 65 or cancer survivors simply wouldn't be able to get insurance.
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    In a completely unregulated market they would, but the premium would be very high (and rightly so).

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    Seven said:
    Dude doesn't know the first thing about how insurance companies work..
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    Whats more to the point is do you know?
     
    OP
    Seven

    Seven

    In bocca al lupo, Fabio.
    Thread Starter #65
    Jun 25, 2003
    39,307
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    • Thread Starter #65
    Juliano13 said:
    In a completely unregulated market they would, but the premium would be very high (and rightly so).

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    Whats more to the point is do you know?
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    How is that fair? Also, you're wrong. Sometimes no one would insure the risk. Again, you know nothing about this.

    And yes, I do. And clearly you don't.
     
    Juliano13

    Juliano13

    Senior Member
    #66
    May 6, 2012
    5,017
    #66
    Seven said:
    Yeah, but that wasn't your question. It also ignores the fact that states put massive amounts of money in these companies.

    I've never met anyone as gullible as you tbh. Not sure how to react..
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    The question still stands and the answer is obviously USA. We can avatar bet if you want.

    My point is that overall the American system is more free market than the European and one of the main benefits is that it stimulated innovation in medicine. Still, the American system is very far from perfect, it's just better than the European.
     
    OP
    Seven

    Seven

    In bocca al lupo, Fabio.
    Thread Starter #67
    Jun 25, 2003
    39,307
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    • Thread Starter #67
    Juliano13 said:
    The question still stands and the answer is obviously USA. We can avatar bet if you want.

    My point is that overall the American system is more free market than the European and one of the main benefits is that it stimulated innovation in medicine. Still, the American system is very far from perfect, it's just better than the European.
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    Lol. No one, no one, no one who had had any experience with disease or surgeries in america would claim the same.
     
    OP
    Seven

    Seven

    In bocca al lupo, Fabio.
    Thread Starter #69
    Jun 25, 2003
    39,307
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    • Thread Starter #69
    Juliano13 said:
    For a high enough price, they would.
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    No. They wouldn't. Again, you don't know how it works. There's a ceiling to these things. Sometimes they just won't insure a risk that high. Something you would know if you knew something about insurances, but you don't.

    Again, do you get that it is an aleatory contract? Do you know why this matters?
     
    Juliano13

    Juliano13

    Senior Member
    #70
    May 6, 2012
    5,017
    #70
    Seven said:
    No. They wouldn't. Again, you don't know how it works. There's a ceiling to these things. Sometimes they just won't insure a risk that high. Something you would know if you knew something about insurances, but you don't.
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    And this is why I said "in a completely unregulated market". When you reply without reading thoroughly and making sure you've understood, you run the risk of looking foolish.

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    Seven said:
    Again, do you get that it is an aleatory contract? Do you know why this matters?
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    It doesn't.
     
    OP
    Seven

    Seven

    In bocca al lupo, Fabio.
    Thread Starter #71
    Jun 25, 2003
    39,307
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    • Thread Starter #71
    Juliano13 said:
    And this is why I said "in a completely unregulated market". When you reply without reading thoroughly and making sure you've understood, you run the risk of looking foolish.

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    It doesn't.
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    No. That's what they do in an unregulated market. They stop insuring at some point. It's an economical decision. Again, it is an aleatory contract. Do you understand why they would stop insuring at some point? Look it up ffs.
     
    OP
    Seven

    Seven

    In bocca al lupo, Fabio.
    Thread Starter #73
    Jun 25, 2003
    39,307
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    • Thread Starter #73
    Ugh, I'll spell it out for you. From the insurer's point of view he is hoping that the risk won't materialize. If the risk is very high, let's say 85 percent, it would be stupid to insure people. If he does this enough times, he will certainly lose money. In healthcare the incentive not to pay is even bigger because the elderly and cancer survivors will face tremendous bills.

    Do you get this?
     
    Juliano13

    Juliano13

    Senior Member
    #77
    May 6, 2012
    5,017
    #77
    Seven said:
    Ugh, I'll spell it out for you. From the insurer's point of view he is hoping that the risk won't materialize. If the risk is very high, let's say 85 percent, it would be stupid to insure people. If he does this enough times, he will certainly lose money. In healthcare the incentive not to pay is even bigger because the elderly and cancer survivors will face tremendous bills.

    Do you get this?
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    An insurance is simply a bet. When you insure your house against fire for 1 million and the premium is 1000 per year, this means that you are betting 1000 dollars that your house will burn this year and the coefficient is 1000 and the insurance company is your bookie. Take your cancer survivor who wants a cancer insurance. Let's say the treatment costs 100k and the probability that he gets sick is 85%. The fair price of the premium is 85k. So why wouldn't the insurance company take the bet for say 90k? Do you think it will take the bet for 100k?
     
    swag

    swag

    L'autista
    Administrator
    #79
    Sep 23, 2003
    84,747
    #79
    Damn, if I thought I was going to be put into a ghey thread about economics, I never would have replied.
     
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