The medical insurance industry is a free market. That's why it's such a disaster.
"Free markets" are certainly not free in any meaningful sense of the word. In practice they make no distinction between activities that provide customer value for a competitive price, and activities that are institutionalised economic extortion maintained by political lobbying and regulatory capture leveraged by plentiful access to capital.
The whole point of "free market" rhetoric in the US is to promote the latter while pretending to promote the former.
"Free markets" are certainly not free in any meaningful sense of the word. In practice they make no distinction between activities that provide customer value for a competitive price, and activities that are institutionalised economic extortion maintained by political lobbying and regulatory capture leveraged by plentiful access to capital.
The whole point of "free market" rhetoric in the US is to promote the latter while pretending to promote the former.