Kenneth Arrow Was Here
Some readers ask why my argument that relatively centralized systems work better for health care (nyt) than the “free market” isn’t an argument for government ownership of everything.
The answer is that health care is different: it’s a sector in which basically every market failure you can think of takes place. And we’ve known that since Kenneth Arrow’s classic analysis (nyt) half a century ago.
It’s shocking, though not surprising, that we keep having to relearn this basic point.
See:
It’s shocking, though not surprising, that we keep having to relearn this basic point.
See:
- The Economist’s “Democracy in America” blog has a very good illustration of the reasons our privatized, market-based system is so much more expensive, for no better results, than everyone else’s
- Kenneth Arrow’s seminal article on the economics of medical care (pdf),
- Toward a 21st-Century Health Care System: Recommendations for Health Care Reform, Kenneth Arrow, PhD ..., April 7, 2009
- Krugman: Why markets can’t cure healthcare, , July 25, 2009
- In defense of Canada -- Comparison with US HealthCare
- Paul Ryan Budget Would Make Big Changes in Medicare, March 29, 2012
- HealthCare Aug 9, 2007
- HealthCareUS Dec 8, 2008
- HealthCareUS-3 May 13, 2009
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