re: Libertarians will defend this: Companies colluding to Jack up the price is free market

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There is nothing to stop these companies from jacking up the price.

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In the current system, you are correct.

But this isn't a free market

There are significant barriers to market entry, created by collusion between the government and corporations.

-Start a company
-Grow a company
-Pay off politicians to create tax structures and regulation to prevent startups from being able to compete
-Do whatever you want
-???????
-Have dipshits on the internet call it a failure of the free market

Markets, even market monopolies, drive DOWN prices.

The only reason prices tend to rise over time is because of government interference in the markets and their manipulation of the money supply.

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The only way to stop them is for a new company to make insulin (they could then just buy out) or for the gubmint to step in and make laws forbidding the practice of companies colluding on price, or forbidding “anticompetitive trade practices”. So in a libertarian paradise, company X makes insulin and tells company Y that “let’s charge $3000 a month since they have no where to go.” X and Y agree, and do so. Then Z tries to break into the market, but X and Y offer Z $300,000,000 for the company, and buy it. Or, they drop their price under cost for a while to bankrupt Z, and then Go back to $3000.

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Maybe go read up on “price fixing”, and anti-trust law then re-evaluate what you have written.