The ethics and economics of health care.
This essay argues that medical innovation proceeds most efficiently and effectively within a free market economy. Medical innovation is an expression of the technological project: the program through which we seek to control nature, to improve the quality and quantity of life. The Technological Project proceeds most efficiently with a free market economy because such a market both promotes competition and encourages innovation. As I argue, the market is a discovery process in which alternatives are tried, tested, and selected by consumer's choices. The alternatives to a free market-primarily central planning and a heavily regulated market-fail adequately to encourage medical innovation.
Capaldi
Nicholas
N
Loyola University of New Orleans, New Orleans, Louisiana 70118, USA. Capaldi@loyno.edu
D035843:Biomedical Research / Q000191:economics / Q000941:ethics; D003132:Commerce / Q000941:ethics; D003695:Delivery of Health Care / Q000191:economics* / Q000941:ethics*; D004467:Economics; D006801:Humans; D013677:Medical Laboratory Science