There is a more specific reason for the ruling elites’ steadfast resistance to Medicare for all, even though it would remove a substantial fiscal burden from many corporations that now function more like health-insurance agencies than car or computer makers or whatever. The health sector makes up 17 percent of the American economy. If, at the stroke of a legislative pen, the federal government were to eliminate all private health insurers and radically trim the profits of the price-gouging Big Pharma companies — as well as cap prices from a host of other private health-industry providers — the stock market bubble — which is the only thing sustaining the illusion of prosperity in the US the other G7 countries now — would pop overnight, plunging the entire economy into a downward spiral that would make the crash of 2009 look like a Gatsby party by comparison. I’m all for bursting this bubble, by the way — it’s going to happen sooner or later. But if you want to know why the elites are so militantly averse to going near single payer, there you have it.