Economix blog with Uwe Reinhardt's second post discussing Kenneth Arrow's famous 1963 paper which essentially asks 'is health care a special good?' to which many of the general laws of economics don't easily apply. Short answer is yes. Of course, the laws of perfectly free markets are violated for many goods, but not for many that are as important to most people as health care.
Last weeks post on Reinhardt's first blog entry.
Friday, August 13, 2010
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