Episode 56: Expensive Drugs, Power to the Patients, Trump Civil Penalty, the National Association of Realtors

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The Thought Provoker

Sam is up first this week. And I make the argument that the high prices we pay here in the US for pharmaceuticals subsidize the entire world, but they guarantee the best end result anywhere else in the world. We have medicines and therapies that are available globally because of the higher prices we pay here in the US.

Next up Shawn, Power to the Patients is a nonprofit organization that advocates for healthcare price transparency. Their mission is to make healthcare more affordable and equitable by making price transparency a standard. In 2021, a rule was mandated that hospitals must provide patients with clear and upfront pricing information about their services and items. However, for many years, hospitals and insurers have been ignoring these rules. Power to the Patients' goal is to help Americans know their right to know healthcare prices up front to shop for value. They also want to ensure that hospitals follow the law to show all their prices. In Alma 37, the word “secret” is used 13 times to condemn the practice of “secret works”. Is it unprincipled for a business, like a hospital to not disclose price and cost of risk (ford pinto for example) to consumers to make free choices? Examples: healthcare, ford pinto, gas stoves, red dye, msg, supplements, etc.
Finally, Matt. I don’t want to get into a debate about Biden vs Trump. Super Tuesday is coming up in March and if Nikki Haley were to win many of those races, she could be the Republican nominee. This question is only about Trump. This week Trump was found guilty of committing massive fraud in his New York City businesses. Along with the $350 million fine, he is barred from serving on any board in any business in the State of New York for the next three years. His accountant is barred from ever doing that kind of work again in the State of New York. The President of the United States is responsible for running the Executive Branch. He also appoints individuals to positions of immense power to run the executive branch. Should a person deemed unfit to run a business in New York be allowed to run the Executive Branch as President? Should someone who has such a hard time selecting a qualified accountant be in charge of filling important roles in the Executive Branch?
The Big Question: Last fall, a Missouri court found the National Association of Realtors and two real-estate brokerages guilty of conspiring to inflate real-estate commissions. Typically, when a home is sold, the listing agent and the buying agent each get a 3% commission, both of which are paid for by the seller. The stage is set for the buyer’s agent to no longer automatically receive a 3% commission. The jury ordered the NAR to pay $1.8 billion in damages. Now it looks like realty groups are going to begin changing their fee structure. This is classic case of government interfering in the markets. Is this government intrusion into the marketplace justified?