User:Nick Gardner /Sandbox: Difference between revisions
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It can be argued that a person's freedom of choice is not reduced when the state makes a choice the that person would otherwise have made, and Kenneth Arrow has argued that state-provided insurance has the effect of increasing individual freedom of choice when market-provided insurance is not available<ref>[http://www.who.int/bulletin/volumes/82/2/PHCBP.pdf Kenneth Arrow: ''Uncertainty and the Welfare Economics of Medical Care''. American Economic Review, December 1963]</ref>. Arrow made that case in the context of an absence of medical insurance, but noted that it applies in principle to any situation in which the market's provision differs fron the competitive model | |||
It can be argued that a person's freedom of choice is not reduced when the state makes a choice the that person would otherwise have made, and Kenneth Arrow has argued that state-provided insurance has the effect of increasing individual freedom of choice when market-provided insurance is not available<ref>[http://www.who.int/bulletin/volumes/82/2/PHCBP.pdf Kenneth Arrow: ''Uncertainty and the Welfare Economics of Medical Care''. American Economic Review, December 1963]</ref>. Arrow made that case in the context of medical insurance, but it | |||
<ref>Akerlof G. (1970), "The Market for Lemons: Quality Uncertainty and the Market Mechanism", Quarterly Journal of Economics 84, 488-500. | <ref>Akerlof G. (1970), "The Market for Lemons: Quality Uncertainty and the Market Mechanism", Quarterly Journal of Economics 84, 488-500. | ||
Revision as of 10:47, 1 November 2009
It can be argued that a person's freedom of choice is not reduced when the state makes a choice the that person would otherwise have made, and Kenneth Arrow has argued that state-provided insurance has the effect of increasing individual freedom of choice when market-provided insurance is not available[1]. Arrow made that case in the context of an absence of medical insurance, but noted that it applies in principle to any situation in which the market's provision differs fron the competitive model
- ↑ Kenneth Arrow: Uncertainty and the Welfare Economics of Medical Care. American Economic Review, December 1963
- ↑ Akerlof G. (1970), "The Market for Lemons: Quality Uncertainty and the Market Mechanism", Quarterly Journal of Economics 84, 488-500. [1] (Google abstract)