I find it supremely ironic that even Austrian economics fans will never, ever say something like this:
You know, you could increase the supply of doctors and health care costs would go down. You could create an international standard for doctors so that anyone in the world could come here to practice medicine for a fraction of what they’re paid now.
Or you could make the term of patents shorter, or find other ways of financing drug research, like paying the costs up-front.
Instead, all I ever hear is praise for a free market that isn’t really free. There is very little discussion of the public policy choices and outcomes that give us the system we have now.
And it’s not really possible to have a market without a government. We’ve tried that, and it didn’t work out well. You’re right about price controls, but you haven’t really addressed how the government intervenes in the market in favor of doctors and insurance companies.