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 medical insurance, but it has broader implications | |||
<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> | |||
<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 10:07, 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 medical insurance, but it has broader implications
- ↑ 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)