The Economics of Healthcare: Crash Course Econ #29

Why is health care so expensive? Once again, there are a lot of factors in play. Jacob and Adriene look at the many reasons that health care in the US is so expensive, and what exactly we get for all that money. Spoiler alert: countries that spend less and get better results are not that uncommon.

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In which Jacob Clifford and Adriene Hill teach you about Economic Systems and Macroeconomics. So, economics is basically about choices. We’ll look at some of the broadest economic choices when we talk about the difference between planned economies and market economies. We’ll get into communism, socialism, command economies, and capitalism. We’ll look at how countries choose the kind of system they’re going to use (spoiler alert: many end up with mixed economies). We’ll also look into how individuals make economic choices.

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33 comments

  1. Can i ask what animation tools were u guys using for this clip?!

  2. I wouldn't expect deadpool in a hospital, but that's it the topic of the video xD

  3. There is something immoral going on in the U.S. healthcare system right now. It's that they think they get to be immune from wage stagnation.

  4. Saathvik Boompelli

    Hello any crash course producers or someone who has a lot of influence on the show, it would be very helpful to a lot of people if you did the topic electrical engineering and has a lot to cover.

  5. Good quality healthcare, like many things, are reserved for the wealthy while the rest of us "nobodies" get the shittier care with older obsolete equipment and less-educated, less-caring and mostly incompetent practitioners!!! I have always been either severely disappointed or completely appalled by the terrible level of healthcare that I have received and that I have seen others receive over the years!!!

  6. i saw Norwich hospital…wow…

  7. The fact that they keep calling healthcare a "market" is just wrong.

  8. I know this show is based in the US – but gez… this episode should be called the economics of the US healthcare system. Not a lot to take away from this episode sadly.

  9. Joshua Rodriguez (JoshRstudios)

    In America Health care runs like a Bussines, if you payed 300$ only 50$ goes to you Health care the rest goes to the insurance corporations

  10. Joshua Rodriguez (JoshRstudios)

    Why no ones said the Truth

  11. The percent of uninsured has actually risen since Obamacare was instituted.

  12. coconutologist

    Hmmm… right around the time of this video Brian Johnson has to sit out of his tour… and Jacob has to leave?

    Coincidence? I think not.

  13. how can i trust someone wearing an acdc belt to help me learn

  14. TheTrueRandomness

    I think it could have been interesting to mention how endogeneity messes with things like "car manufacturers will produce the cars people want" which is true but hides the fact that sometimes it can be cheaper for companies to change what people want than to change the car they are producing. I guess this comes down to the fact ( which was very briefly mentioned when you listed education as an important government service ) that people are not rational actors.

  15. Jack Greenhalgh

    Oh cool an ACDC belt, he must be an awesome guy – now I want to learn more!

  16. Most people confuse corporatism and crony capitalism for actual capitalism. There are some key things that kill capitalism, these are monopolies, artificial price floors and price ceilings, and high taxes. Ironically, these are the allies of corporatism, which so many socialists hate, and yet inadvertently support by advocating for these policies.

  17. That green "shirt" was terrible! What was she thinking. ~_0

  18. Thank you so much. I enjoy your videos, it's actually relevant to people like me who don't live in the US.

  19. Joseph MacMillan

    China isn't in fact socialist, nor is it communist. From all of the countries I have lived in, not a single one of them has been more of a FREE MARKET ECONOMY than China; No public funds for assistance, no socialised housing. Socially, the government is bordering on dictatorship, but economically, people are wheeling-and-dealing constantly, with little regulation. We are largely misinformed in the West about how China is run, and I hope this comment helps.

    For reference, I have lived in the following countries as a comparison:

    China (Shanghai, Guangzhou)
    Hong Kong
    Canada (Edmonton)
    United States (Los Angeles)
    United Kingdom (London, Northampton, Exeter)
    Italy (Milan)
    South Korea (Seoul)
    Singapore
    Thailand (Bangkok)
    France (Paris)

    Now let me re-iterate: Not a single country I've listed has been more of a FREE MARKET ECONOMY than China has been. Sure, they have governmental businesses which operate large corporations, such as the tobacco industry, but in general, no place I've lived in has had more people in business for themselves, pushing to make an extra dollar, close an extra sale, or gain a higher margin than China. They're fighting for every Yuan, and it's clearly because they have no safety net. There's far less regulation when it comes to pollution, and workplace standards.

    From there, let me just say: IT'S HORRIBLE!
    They're obsessed with money, more than anywhere else I've lived. If they get sick, and can't pay for the hospital, they're fucked. If they lose their job and can't pay the rent? They're fucked. They are controlled by what they can say, do, watch, hear, and read by their glourious government which is keeping them stupid to ensure they continue to work as slaves and hand over their money in the form of taxes, but there's clearly a disconnect between what the Government say they're doing, and what they're actually doing. The environment is absolutely ruined, the air is poison, the ground water is undrinkable, and that's directly a result of the obsession over growth due to the free market economy, and people scrambling after a starvation crisis which killed off 50 million Chinese people (thanks, Mao).

    This hellhole is worse than the propaganda surrounding the "Red" countries which Americans are so obsessed with hating (still?).

    Out of the places, I've lived, the best places to live for normal every-day people, to ensure a high level of education, good healthcare, proper wages, and a good quality of life overall?
    Canada and the United Kingdom.. Both are Democratic Socialist.

    Singapore was quite nice as well, but that has to do with a tiny tiny tiny area of regulation, tiny population, and a great position on the globe to be a trade hub. Hong Kong could fall into that as well.

    The question asked in this video was: Should the people who do things to harm themselves (such as gambling or smoking) be helped by the Governmental safety net?
    Yes. They should. Many smokers were alive during a time in which the government allowed advertisements to be aired which claim smoking is GOOD FOR YOU. Those people are just facing the reality of that now. Gambling is a disorder, and mental weakness which should be treated the same way alcoholism should be treated; with respect and a plan to get the people out of the obsession.

    The first step is prevention, through education, and the more educated a population is, the less it smokes and gambles.

    Austerity, as promoted by many governments currently (such as, sadly, the UK) is a farce to cut the social benefits currently offered from the working and middle class and filter them into buying weapons, padding the pockets of the politician's Eaton buddies, and spying on their own citizens to be able to control them. How do we get higher quality educations? By encouraging the people who might decide to be Doctors and Engineers to consider working as a teacher, through high wages, and good working environments. I'm certain every country has enough bombs and drones to last through the entire of World War III once it comes along, and still have some left over for when intelligent lifeforms climb out of the slime after another few hundred million years… so why are we cutting school funding to pay for more of those things? Why are we cutting benefits for Pensioners, and cancelling the pension program all together for those currently under 40, in order to pay for things like the GCHQ spy program (or the NSA in the USA)? Because those things help the people in control stay in control, and pad the pockets of their buddies (or themselves, via lobbyists).

    Just my 2 cents.

  20. all hail AI overload when singularity arrives!!

  21. KnightCraft 130

    what does dftba mean?

  22. Mikey 97 (Supermikey97)

    My teacher is showing us this.

  23. AP test tomorrow #RIP

  24. Roads actually can work efficiently without government intervention. If there is demand some self interested person or corporation will fill the need. If there is a need for roads, private roads will spring up, and if one such road is run inefficiently others will rise to take its place. You actually described this cycle of supply and demand in the video so it's counter intuitive to state that we must have a government to have proper roads. Furthermore, private companies will allocate resources more efficiently because, unlike government bureaucrats, they are self interested to make and maintain roads that are overall beneficial to the economy. For example private road companies will not pave roads out in underpopulated areas which do not have the population density necessary to support the cost of the road, governments however are not motivated by supply and demand and consequently do not allocate resources as effectively as private corporations.

  25. We don't think much about who produced the car?, that is so inaccurate that it call's into question your ability to perceive reality correctly. I think people do put a lot of thought into who produced the car. Some cars sell just because of their producer because of the prestige that goes with it e.g. mercede-benz, rolls-royce etc.

  26. Economics= producing shit graphs to point out the obvious.
    Todays stupid quote="if a companys produce's a product that nobody wants to buy, then another company will produce a better version".

  27. Jurica Hržić

    China has a state capitalist economy

  28. Jurica Hržić

    6:44 is that Bill Clinton?

  29. The world is divided between Free Market and Socialism. Except for, wait for it, The Mongols!

  30. 9:08 That belt doeeee
    ACDC

  31. ACDC Belt

  32. Anthony Demetriou

    'I'm fun and cool and light-hearted!'

  33. Half speed: Adrian sounds baked and Jacob sounds drunk

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