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
-<ref>Akerlof G. (1970), "The Market for Lemons: Quality Uncertainty and the Market Mechanism", Quarterly Journal of Economics 84, 488-500.
-[http://books.google.com/books?id=zqLCvPhQcg0C&pg=PA175&lpg=PA175&dq=akerlof%E2%80%99s+market+for+lemons&source=bl&ots=swotxzjRbw&sig=eXjExEkkWOx8UuFffWibufYQXek&hl=en&ei=TgPrSus048qMB_bvxZgN&sa=X&oi=book_result&ct=result&resnum=8&ved=0CCEQ6AEwBzge#v=onepage&q=&f=false] (Google abstract)</ref>
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Revision as of 06:44, 2 November 2009