This article discusses two important parts of the medical field, general practices and general practioners. In the first part of the article, it discusses how governmetn funding is used to fund general practices. This is an example of government stepping in to make sure the markets are working correctly, if they are not leaning towards equilibrium. The second part of this article discusses who general practioners rely on to get paid. The article mentions that they rely on the person sitting right in front of them. This is an example of personal decisions interacting in the market. The patient going into the doctor is seeking medical attention, while the practitioner is looking to gain money by taking care of the patient. This is also a trade-off between these two people!!
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1 comment:
The article states that the health of individuals is a public good; meaning that if one person is healthy it is not only good for that person, but society as a whole is better off. But what happens when the government takes it upon itself to alter the market in the name of helping the ill? Will it bring about better health for the country? Or will it just lower the incentives of drug manufacturers to create new methods of treatment? The government has to be careful. Yes it is important for people to be able to access the help they need. But I think that in the long run, the cost of government intervention in the health care industry might outweigh the short run benefits.
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