Is Wall Street Making Life or Death Decisions on Your Behalf?

In the last thirty years, the values of Wall Street have so infiltrated American society that seemingly all aspects of life are impacted, even medical care.

Is your health insurance company traded on Wall Street?

If so, is Wall Street deciding your medical care?

It’s hard to recall that for-profit corporations were once kept out of health care — in fact, for most of the 20th century. During this time, the nation’s medical system was built largely by non-profit and charitable organizations, which is why so many hospitals are named for saints. Courts across the country ruled that for corporations to profit from medical care was simply “against sound public policy.” In the early 1980′s, however, when the financial and airline industries were deregulated, a similar process occurred for American medicine. For-profit corporations became newly encouraged to take leadership of health care. Deregulating health care into the free market was intended to drive down costs and to improve care. After all, medical care in 1980 consumed a whopping 9.1 percent of the nation’s GDP.

Never mind that after 30 years in the free market, health care costs have doubled to consume 18 percent of the GDP (with a third of these precious dollars wasted on bureaucracy). Never mind that health care has gotten increasingly inaccessible to the uninsured and even the insured, or that American health care has become an international poster child for reform

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