The fundamental problem with private sector market philosophy is that its primary goal is to make a profit for investors which does not necessary coincide with the right thing to do. Hence if the drug coverage of a patient with black lung is too expensive, the insurance company actuarial model says the solution is to let the patient die.
Corporations do not function morally, they function so they can have positive financial statements which is understandable. The problem comes when the appetite of the investor is never satiated which is almost always the case. Hence properly applied level of government combined with private sector operation is the key to a successful society which is why the Nordic European states are so successful when it comes to balancing the needs of the population with advancing the coffers of private enterprise.
Balance is everything.
The US Republican model is don’t tread on me and don’t bother me with your problems which is the antithesis of social justice. It is a greed-based system which pretends that “trickledown economics” (a disproven theory) is a real thing; at least that is what they tell their captive audience in the red states.
The combination of this model coupled with the wedge issues now bolstered by a right-wing supreme court is what will ultimately be the undoing of America whose growing population of working poor is increasingly having trouble pretending to keep up with the 1%.