A cure for a chronic illness could be plenty profitable if we had a free market.
Like, people can make money actually repairing cars. Even though a car that leaks oil could be a constant revenue center for someone selling oil, someone else can actually make a profit fixing oil leaks.
The fact that selling a continuous stream of oil to someone with a leaky engine does not automatically imply that fixing the leak isn’t profitable.
This sort of “X is more profitable so Y doesn’t happen” thing only actually causes Y to not happen when the market isn’t free.
If one company — via government-enforced monopoly — controls motor oil sales and oil leak fixing, then that one company can nix the permanent repair market in order to maximize profits from selling motor oil. But that’s not a free market.
It’s the fact our medical market is so tightly, centrally controlled that makes less-profitable things like preventing diabetes impossible. That kind of niche elimination is a property of a centrally-controlled market, not a property of an actually free market.
We have a free market for clothes. That means: (a) anyone who can sew cloth together can sell clothes, (b) anyone who can acquire clothes for cheap and sell them slightly higher can sell clothes, © anyone with money can buy clothes at any time from anyone. I can buy clothes from my neighbor if I want. I can donate old clothes to Goodwill and others can buy them cheaper than new. I can own 500 pairs of jeans if I feel like it, or wear nothing but sweatpants simply because I feel like it.
Imagine if you needed a prescription from a clothing consultant before you could buy a jacket, or a shirt. That’s not capitalism. That’s not a free market.
Just because money is exchanged for healthcare in the USA does not mean we have a free market for healthcare. We do have a market in healthcare; we do not have a free market in healthcare.
If we had a free market for healthcare, I’d be able to buy chemistry equipment and make whatever anti-cancer drugs people need and undercut other manufacturers. I’d be able to just go pay a hundred bucks to use an MRI machine or an x-ray machine, without needing to pay money to see a doctor first and get their okay for the scan. I’d be able to just go buy wellbutrin for $15 instead of paying my psychiatrist $100 every two weeks to check in and see if it’s still working.
We do not have anything even remotely resembling a free market for healthcare. We really, really need one though.