American Industry

In 1984 triplet girls born three months prematurely received life-saving blood transfusions. A year later their parents learned that their donor had the AIDS virus. After years of suffering, all three sisters died. It has been discovered that six more children have received infected blood from the same Red Cross donor. Bad Blood is the story of gross mismanagement and shocking neglect within the American Red Cross.

In this short audiobook, R.W. Murphy makes the argument that the US healthcare delivery system is irreparably broken as the result of a perfectly inelastic demand curve for healthcare goods and services. In essence, he indicates that Americans will buy the same number of units regardless of price and that is destroying the system. He points to all the retail level cost control initiatives to date as failing to address wholesale pricing pressures. His premise is that underlying wholesale cost increases have hardly been affected at all.