Profits, Poverty, and Health Care: An Examination of the Ethical Base of Economics
18 Pages Posted: 21 Sep 2018
Date Written: 1996
Part I of this Article explains the dual analysis of ethics (ethical base of markets as a process and an end result) as it relates to profits and market efficiency. In particular, the author questions whether individuals are able to judge their own welfare and, if so, do individuals accept that they are the best judge. Part II explains the ethics of profit and its relation to poverty. Specifically, the author describes the response to poverty in the context of health care by the consumer and producer. The author concludes by noting that the need for efficiency is in health care is unquestionable, but that markets are not always efficient in this area, especially for the poor. In order to resolve the tension between efficiency and providing health care for the poor, policy makers must articulate the trade-offs between these two social objectives.
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