Purpose – The purpose of this paper is to support the claim that socialism is ineffective and inefficient, and that this insight applies to socialized medicine, as well as all other forms of socialism. Design/methodology/approach – The main method utilized in this paper is the application of basic supply and demand analysis, based on private property rights and profit considerations, to healthcare. Findings – It is found that the application of these basic elements of economics to healthcare demonstrates that free enterprise can better attain the ends of healthcare than can socialism. Research limitations/implications – Future research should focus on the anomaly that most people view socialism with great disdain, but not when it comes to health care. Why the logical disconnect? Practical implications – The Soviet Union went through economic paroxysms in ridding itself of socialism. If the implications of this research are implemented, these can be avoided in our health care system. Social implications – The impact on society of this research will be very beneficial; under free enterprise, costs will be lower, and quality of care higher. But public attitudes are at present very much in favor of socialized medicine. Hopefully, one of the benefits of the present paper will be to change this. Originality/value – The value of the paper is that, in some small way, it will help attain greater health for the entire population.
Humanomics – Emerald Publishing
Published: May 17, 2013
Keywords: United States of America; Healthcare; Medicine; Socialism; Free markets; Socialized medicine; Moral hazard; Entry restrictions
It’s your single place to instantly
discover and read the research
that matters to you.
Enjoy affordable access to
over 18 million articles from more than
15,000 peer-reviewed journals.
All for just $49/month
Query the DeepDyve database, plus search all of PubMed and Google Scholar seamlessly
Save any article or search result from DeepDyve, PubMed, and Google Scholar... all in one place.
Get unlimited, online access to over 18 million full-text articles from more than 15,000 scientific journals.
Read from thousands of the leading scholarly journals from SpringerNature, Elsevier, Wiley-Blackwell, Oxford University Press and more.
All the latest content is available, no embargo periods.
“Hi guys, I cannot tell you how much I love this resource. Incredible. I really believe you've hit the nail on the head with this site in regards to solving the research-purchase issue.”Daniel C.
“Whoa! It’s like Spotify but for academic articles.”@Phil_Robichaud
“I must say, @deepdyve is a fabulous solution to the independent researcher's problem of #access to #information.”@deepthiw
“My last article couldn't be possible without the platform @deepdyve that makes journal papers cheaper.”@JoseServera