BBC News reports that the UK is spending up to £2 billion a year common ailments that don’t require a doctor’s visit. Why anyone would voluntarily inflict the process of a doctors visit on themselves for anything short of heart failure is beyond me. During my trip to the doctor here in Azerbaijan, the nurse drawing blood used a needle the size of a drain pipe to dig around my arm like she was mining for gold. As a result, my left arm remains one giant bruise a week later.

Regardless, it is a concrete example of the perils of delivering healthcare with no market to signal price and use levels. Of course, that knife cuts both ways. If people bear too much cost, they might forgo cost saving preventative care.