“For Profit” for Good!
By Evelyn Pyburn
Good grief. One can hardly imagine why anyone in the US can doubt the quality and dependability of services and products from the private sector – most especially when one compares it to how government performs. And, yet it is we have legislators and professionals and other leaders pushing back against private medical schools simply because they are “for profit.” Really!?
Following announcements by two private companies that intend to launch medical schools in Montana – one in Billings and another in Great Falls – comments emerged in the media from some people who were outraged at the very idea of “for profit” medical schools, including a Republican state legislator– Ed Buttrey, (R) – HD21 of Great Falls a Realtor also sits on the board of Benefis Healthcare.
With people like Mr. Buttrey refusing to defend “for profit” free markets, there’s no need for Alexandria Ocasio-Cortez to advocate for socialism. The situation fully demonstrates why so many people, especially the young, believe that socialism is a better system than free markets. It’s not because of what people like Ms. Ocasio-Cortez says, but what people like Mr. Buttrey fail to say.
For decades and decades our political leaders, who say they believe in the efficacy of free markets (ie. “for profits”), while campaigning, fail to support them once elected and even more damaging fail to explain what makes them better. Not only have they failed to make the case but so have our public schools and so have many parents, truth be told.
In fact, one could ask where are the voices of all the other political leaders and free marketers in this state who claim to support “for profits”? Where are the voices we need to explain why the “for profit” motive has proven to be a miraculous thing.
It’s been reported that “Benefis’ Dr. Patrick Galvas and Great Falls legislator Ed Buttrey slammed” the “business model” of the school proposed for Billings because it is a “for profit” entity, while the one proposed from Great Falls is a “non-profit.”
“In our opinion, medical education is not the place for the profit-driven motivations of a Wall Street-owned, for-profit medical school,” Galvas and Buttrey wrote.
So maybe that’s all this is about – a very self-serving effort to malign the competition. It’s an act of protectionism. That is in truth why most anti-market legislation emerges and what stands behind almost all the regulations that undermine free markets – established businesses attempting to protect themselves from competition.
This is a country where “for profit” is a good thing. Where “for profit” has built the strongest economy in all history, providing the highest standard of living average citizens have ever known, and in fact providing the world with phenomenal new technology and innovations beyond anyone’s wildest imagination. IT HAPPENED BECAUSE OF “FOR PROFIT” ENTERPRISES!
And, you don’t think a profit motive can incentivize a quality medical school? Making a profit is a far more wholesome incentive than climbing the political ladder, which is the primary incentive that permeates almost all government “enterprises” or bureaucracies. In exactly what discipline does government out-perform private business?
In fact our entire medical industry could do with a very healthy dose of free market competition and the injection of creative entrepreneurship. Our shortage of doctors is nothing new – we have been experiencing this shortage for decades and nothing changes. The reasons have primarily to do with the fact that the system is not market driven. The shortage of doctors is all about politics and power structures and the kind of “profits” that come much more easily to that system than to the private market. The medical industry is totally ensnarled in red tape and regulations… it is one of the least free markets in the country, hence we have not only a shortage of doctors but runaway medical costs.
Questioning the efficacy of education organizations because they hope to make a profit is nonsense.
We heard for years and years and years that private schools couldn’t compete with public or government schools. We don’t hear that much anymore. Not that there aren’t those who resist private education but it’s not because private schools aren’t good. There is no longer any question that not only are they good but most often are better. Do you know where President Obama’s girls went to school?
Or let’s look at the post office. There too we heard over and over again that we had to have a government run post office because the private sector could never do what the post office does. Nor, would anyone want to because they couldn’t make a profit. Have you heard of UPS? If there was no threat of the private sector delivering the mail…and maybe doing it better … there would be no laws against delivering first class mail.
The same is true about aerospace and only government could send up rockets. Many may not know, but at one time that too was illegal. Could I introduce you to SpaceX and Elon Musk or any of a dozen other companies?
Given the true history of the profit motive and the history of how “for profit” has built the greatest economic system ever and the highest ever standard of living for the common man, maybe it’s time to learn and understand why it works. And, to make sure our children know.