Health Care Systems in U.S.

The lynch-pin of the market system is complimentary competition, which "diffuses economic power within the businesses and households that make up the economic system" (McConnell-Brue, pp. 59-61). When market systems operate as they atomic number 18 supposed to, they depict the widest variety of high-quality products possible at the lowest prices possible. However, there atomic number 18 certain market failures that can limit the effectiveness of the market.

The conventional example of market failure involves in the public eye(predicate) goods. Public goods posture a problem for market systems because they ar indivisible; in one case a producer has provided the good they cannot exclude people who contrive not paid from using the good or obtaining its benefits. The clear example of a public good is a lighthouse, which benefits only passing ships even if they have not paid for its proceeding (McConnell Brue, 330-331). However, market failures are not limited to public goods much(prenominal) as lighthouses or national defense. Market failures can happen "whenever markets are incomplete or information is imperfect?in some sectors of the economy, like the financial sector, or the wellnesscare sector, these limitations are very important" (Stiglitz, p. 6).

The reasons why these limitations of the market system are particularly important within the healt

Harper, Ian (2003). Preserving Choice A Defence of Public Support for orphic Health Care Funding in Australia. Available at [www.medibank.com.au/pdfs/PreservingChoiceSummary.

pdf]

Division for Public Economics and Public Administration. Available at [unpan1.un.org/intradoc/groups/ public/documents/UN/UNPAN000159.pdf]

Another possible way to implement a private system could be for the government to provide health insurance vouchers for individuals who are unable to afford insurance in the pure market system. These vouchers would serve as a span between the market system and those who are unable to bargain for insurance. It would allow the government to insure the previously uninsured time not becoming overly reliant on the public sector to provide health insurance.

Friedman, David. "Should Medicine be a Commodity? An Economist's Perspective." Available at [www.daviddfriedman.com/Academic/ Medicine_Commodity/Medicine_Commodity.html]

United Nations (1999). Trends and Issues in the Analysis of Public Expenditures. Department of Economic and Social personal matters;

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