Disadvantages Of A Free Market

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PART VI DELIVERY OF MEDICAL CARE-FREE MARKET MECHANISMS Section 13 The Free Market Ronald Reagan said, in his address on September 29, 1981, that: “We who live in free market societies believe that growth, prosperity and ultimately human fulfillment, are created from the bottom up, not the government down”. Further, in a message to Congress on July 17, 1981, he said: Our primary objective is simply for our citizens to have enough energy, and it is up to them to decode how much energy that is, and in what form and manner it will reach them. When the free market is permitted to work the way it should, millions of individual choices and judgments will produce the proper balance of supply and demand our economy needs”. “The invisible hand…show more content…
In the medical field, the consumer is best defined as a doctor-patient dyad. A free market is the opposite of a controlled market, as described in Sections 10, 11 and 12, above. In an ideal free market, property rights are voluntarily exchanged at a price arranged solely by mutual consent of sellers and buyers. By definition, buyers and sellers do not coerce each…show more content…
Here, we have sellers who are individuals and buyers who are individuals. There is no intense, coercive marketing “push”. Information about which cars are for sale and by whom, can come from “Craigslist”, or from the local equivalent of the “Pennysaver”. Both seller and buyer benefit from information available to both, as from “Consumer’s Report” or from “Kelly’s Blue Book”. The buyer is able to seek a mechanic, and, essentially, form a mechanic-buyer dyad, important in the final sale. Three changes would be necessary for the medical “market” to be freed, as is the example above: 1. The advertising of physicians, medical devices, and drugs would need to return to being unethical. 2. Information could come from neutral sources, such as the Internet, about physician availability, medical devices and drugs. 3. Development of doctor-patient dyads would have to be encouraged. Transitioning to such an authentic free market would require the political will to undo or roll back the present permissive attitude toward medical advertising and to encourage the development of other neutral sources. Transitioning to an authentic free market would require the cooperation of physicians in forming doctor-patient dyads. All this will require time. In which system would you like to

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