Biotech Values

[corpstrat]

McKinsey
Dew, It is almost certainly quixotic for me to try this with you but ...
As a recovering McKinseyite myself, I recognize simplistic use of perfect-market ways of thinking by very bright people with time on their hands where they don't fit the market reality.

Health care is not and never can be a perfect market. Not one of the important conditions for perfect markets to work is met - information symmetry between buyer and seller, buyer using own money, buyer unemotional, commodity substitutable product, many sellers with no cartel operation possible, and others that I'm surely forgetting. Micro 101.

Market chatter about health care is thus self-serving / special pleading ideology from the vested interests of providers and intermediaries. McKinsey serves some of these players, so will not come out clearly for an NHS-style solution, which is what the characteristics of health care cries out for, even though McK will sometimes allow the facts to lead them in that direction a bit. (Now I'd better glance through their latest report!)