I agree that they are over priced, but they aren't commodities. Commodity products are indistinguishable, but there are definitely different qualities of healthcare and higher education.
Pragmatically, I would describe health care and education as commodities with some providers who sell a "premium" service. How much education happens at top tier, how much health care happens at the Mayo Clinic?
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I agree that they are over priced, but they aren't commodities. Commodity products are indistinguishable, but there are definitely different qualities of healthcare and higher education.
Pragmatically, I would describe health care and education as commodities with some providers who sell a "premium" service. How much education happens at top tier, how much health care happens at the Mayo Clinic?
Most of the evidence suggests that healthcare is a commodity product.
http://www.overcomingbias.com/2009/02/what-is-medical-qualit...