This really is why socialist planning is indispensable. Capitalist economies can build unfathomable wealth (for a few people), but is unable to translate that into genuine well being for the people. China spends far less on healthcare than the US, whether you count per capita, % of GDP, or total spending. And yet China has a longer life expectancy and lower infant mortality rate. The vaunted efficiency of free markets has completely failed to materialize in this sector.
This really is why socialist planning is indispensable. Capitalist economies can build unfathomable wealth (for a few people), but is unable to translate that into genuine well being for the people. China spends far less on healthcare than the US, whether you count per capita, % of GDP, or total spending. And yet China has a longer life expectancy and lower infant mortality rate. The vaunted efficiency of free markets has completely failed to materialize in this sector.
exactly