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Should Medicine be a Commodity? An Economist’s Perspective

  • David Friedman
Part of the Philosophy and Medicine book series (PHME, volume 38)

Abstract

In our society, probably in any society, goods are produced and allocated in several different ways. One very common pattern is production for and sale on the market. Butter, computers, and plumbers’ services, to take three examples out of a multitude, are produced by individuals and firms, acting in what they perceive to be their own interest, and sold, usually for money, to those who wish to consume them. While this is a common way in which goods are produced and allocated in our society, it is not the only way, nor is it even clear that it represents a larger part of the total economy than alternative ways.

Keywords

Medical Care Public Good Minimum Wage Marginal Utility Imperfect Information 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.

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Copyright information

© Kluwer Academic Publishers 1991

Authors and Affiliations

  • David Friedman
    • 1
  1. 1.University of Chicago Law SchoolChicagoUSA

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