How Billionaires Made the Ravages of the Pandemic Worse
It is not a coincidence that hospital beds have been in alarmingly short supply during multiple stretches of the pandemic.
Instead, according to a new book by The New York Times journalist Peter S. Goodman, the shortage was the byproduct of wealthy investors—often billionaires—who seized on health care as a lucrative money spigot.
Goodman argues that private equity investors accumulated huge influence in the sector over a period of decades, then intentionally reduced the supply of beds in order to boost the prices they could charge.