Is health care more, or less, nonprofit than other types

Reference no: EM133268325

Question 1. Does the "invisible hand" work in regards to a free-market health care system? (the invisible hand is a term used by Adam Smith to describe a sort of neutralizing effect in response to economic extremes. That is if the market is left alone, the "invisible hand" will sort of equalize manipulations toward self-interest, sort of invisible policemen that keep extremism at bay).

Question 2. Give an example that clearly illustrates the welfare-maximizing effects of self-interested competition and one that calls self-interested competition into question. (welfare-maximizing is intended to imply what's good for the people - it does not refer to a supportive government system. Self-interest competition refers to those entities that want to create their profits at the cost of others; modern lobbyists manipulate congress to pass laws to protect a product or industry that harms the people, And there are plenty of examples of these..).

Question 3. Is health care more, or less, nonprofit than other types of human productivity and exchange? And, if so, why? (Is the health care industry founded on taking care of the people or making profits, or at what combination of the two?).

Reference no: EM133268325

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