Speaking of price gouging and wasteful spending, the U.S. military doesn’t want to be outdone by the healthcare industry. User Sligmit posted this invoice for a single bolt purchased by the military at a cost of $45.90.
Obviously there are different kinds of steel and high end steel can be extremely expensive. But, according to Sligmit the bolt is, “Not for an aircraft, no special metal. It’s for a HMMWV. Still important, but I don’t think it justifies spending that much. If we had different suppliers to choose from, maybe competition would lower the price.”
When you force a hospital or a military base to only buy from one supplier, and that supplier knows it, they can charge virtually anything they want no matter how mundane the product. Sort of like the $80 pack of rules that could be purchased off of eBay for $7.